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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: stockmarket14 who wrote (9227)	11/29/2001 1:55:28 PM
From: LTK007	Respond to of 99280

do you suppose the 9/11 effect is going to vanish?--we have no indication it will--commentary from briefing.com on initial claims report <<Highlights Initial claims rose 54K to 488K in week of Nov 24. Continued claims surged 301K to 4.018 mln in week of Nov 17. Key Factors The string of initial claims declines totaling 73K halted with strong rise. Could be tied to holiday timing. 4-week initial average of 454K compares to 506K Oct 20 peak but sub-400K in August. Huge surge in continued claims lifts the level above a very lofty 4 mln. Accelerates strong upward trend. Expect a continued ride higher as layoff announcements continue and lead the unemployment claims. Recession leaves a dark outlook for claims as profit-led business cost cutting continues. Big Picture The acceleration in unemployment claims returned in September as massive layoffs followed the 9/11 tragedy. The broader measures (continued claims, unemployment, payroll growth) provide a clearer view of the entire labor market as initial claims best track layoffs. Continued claims continue to race higher and currently stands at a 19 year high. Both initial and continued claims are at recession levels as the continued reports of layoffs and the economic recession argue for the upward trend to continue. Category Nov 24 Nov 17 Nov 10 Nov 3 Oct 27 Initial Claims 488K 434 442 452 496 4-Wk Moving Avg 454 456 474 488 496 State Benefits - - 4018K 3717 3800 3704 4-Wk Moving Avg - - 3810 3727 3707 3657 Insured Unemp Rate - - 3.1% 2.9% 3.0% 2.9% >> end quote