U.S. Weekly Jobless Claims Rebound Modestly From Five-Month Low

RTTNews | 17 дней спустя
U.S. Weekly Jobless Claims Rebound Modestly From Five-Month Low

(RTTNews) - A report released by the Labor Department on Thursday showed a modest rebound by first-time claims for U.S. unemployment benefits in the week ended November 2nd.

The Labor Department said initial jobless claims crept up to 221,000, an increase of 3,000 from the previous week's revised level of 218,000.

Economists had expected jobless claims to rise to 221,000 from the 216,000 originally reported for the previous week.

The uptick came a week after jobless claims dropped to their lowest level since hitting 216,000 in the week ended May 18th.

Meanwhile, the report said the less volatile four-week moving average fell to 227,250, a decrease of 9,750 from the previous week's revised average of 237,000.

"Initial claims for unemployment insurance benefits remain low as the biggest issue for the job market isn't firing but weaker hiring," said Ryan Sweet, Chief US Economist at Oxford Economics. "For the first time in three weeks, initial claims remained below our estimate of the break-even level, or that consistent with no monthly job growth."

He added, "Initial claims don't alter our assessment of the balance of risks to the labor market, which remain tilted toward weaker hiring than a sudden rise in layoffs."

The Labor Department also said continuing claims, a reading on the number of people receiving ongoing employment assistance, climbed by 39,000 to 1.892 million, reaching the highest level since November 2021.

The four-week moving average of continuing claims also reached a nearly three-year high, rising by 8,500 to 1,875,500.

"Continuing claims have been edging higher, consistent with other signs that hiring has slowed," said Sweet. "Continuing claims might still be feeling the lingering effects of Hurricane Milton."

Last Friday, the Labor Department released a report showing employment in the U.S. edged only slightly higher in the month of October.

The Labor Department said non-farm payroll employment crept up by 12,000 jobs in October compared to economist estimates for the addition of 113,000 jobs.

The report also showed a modest downward revision to job growth in September as well as a more significant downward revision to job growth in August.

Employment in September shot up by 223,000 jobs compared to the previously reported surge of 254,000 jobs, while employment in August rose by 78,000 jobs compared to the previously reported jump of 159,000 jobs.

With the downward revisions, employment in August and September increased by 112,000 fewer jobs than previously reported.

Meanwhile, the report said the unemployment rate came in at 4.1 percent in October, unchanged from September and in line with economist estimates.

Тэгов: USD
read more
U.S. Consumer Sentiment Improves Less Than Previously Estimated In November

U.S. Consumer Sentiment Improves Less Than Previously Estimated In November

Consumer sentiment in the U.S. improved less than previously estimated in the month of November, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for November was downwardly revised to 71.8 from the preliminary reading of 73.0.
RTTNews | 2 дней спустя
U.S. Leading Economic Index Falls Slightly More Than Expected In October

U.S. Leading Economic Index Falls Slightly More Than Expected In October

A reading on leading U.S. economic indicators fell by slightly more than expected in the month of October, the Conference Board revealed in a report released on Thursday. The Conference Board said its leading economic index slid by 0.4 percent in October after dipping by a revised 0.3 percent in September.
RTTNews | 3 дней спустя
U.S. Existing Home Sales Rebound More Than Expected In October

U.S. Existing Home Sales Rebound More Than Expected In October

Existing home sales in the U.S. rebounded by more than expected in the month of October, according to a report released by the National Association of Realtors on Thursday. The report said existing home sales surged by 3.4 percent to an annual rate of 3.96 million in October after slumping by 1.3 percent to a revised rate of 3.83 million in September.
RTTNews | 3 дней спустя
Philly Fed Index Unexpectedly Indicates Contraction In November

Philly Fed Index Unexpectedly Indicates Contraction In November

A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing activity softened overall in the month of November. The Philly Fed said its diffusion index for current general activity tumbled to a negative 5.5 in November from a positive 10.3 in October, with a negative reading indicating contraction.
RTTNews | 3 дней спустя
U.S. Weekly Claims Dip To Lowest Level In Over Six Months

U.S. Weekly Claims Dip To Lowest Level In Over Six Months

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended November 16th. The report said initial jobless claims slipped to 213,000, a decrease of 6,000 from the previous week's revised level of 219,000. Economists had expected jobless claims to inch up to 220,000.
RTTNews | 3 дней спустя
U.S. Weekly Claims Unexpectedly Dip To 213,000

U.S. Weekly Claims Unexpectedly Dip To 213,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended November 16th
RTTNews | 3 дней спустя
Fed's Barkin Warns U.S. Vulnerable To Inflation Shocks - FT

Fed's Barkin Warns U.S. Vulnerable To Inflation Shocks - FT

The U.S. economy is now more vulnerable to inflation shocks than it was in the past, Federal Reserve Bank of Richmond President Tom Barkin said in an interview to the Financial Times published on Wednesday, as businesses grow increasingly concerned about the impact of the Donald Trump administration's policies regarding tariffs and migrants.
RTTNews | 3 дней спустя