Jul 30: Initial Claims Up – Economic Highlights | Stock Market News & Stocks to Watch from StraightStocks

Jul 30: Initial Claims Up – Economic Highlights

Source: http://www.zacks.com/stock/news/23003/Jul+30%3A+Initial+Claims+Up+-+Economic+Highlights
Posted on Thursday, July 30th, 2009 | In Market Commentary, Stocks to Watch

Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -

Initial Claims increased by 25,000 to 584,000 for the week ending 07/25 from 559,000 the previous week (revised upward from 554,000). Analysts expected a lower increase to 574,000 for the week. The 4-week moving average was 559,000, a decrease of 8,250 from the previous week’s revised average demonstrating that the underlying trend of filings is showing an improvement, despite the weekly spike in filings. New York had a 22,052 reduction in filings for the week ending 7/18 from fewer layoffs in the service and transportation industries. Seasonally adjusted insured unemployment last week was 6,197,000, a decrease of 54,000 from the preceding week’s revised level, maintaining the seasonally adjusted insured unemployment rate of 4.7%.

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