Unemployment Claims decreased to 255,000

Thursday, Oct 15 2015

In the week ending October 10, the advance figure for seasonally adjusted initial claims was 255,000, a decrease of 7,000 from the previous week's revised level. Analysts were expecting increase to 269,000. The previous week's level was revised down by 1,000 from 263,000 to 262,000. The 4-week moving average was 265,000, a decrease of 2,250 from the previous week's revised average. This is the lowest level for this average since December 15, 1973 when it was 256,750. The previous week's average was revised down by 250 from 267,500 to 267,250.

Separate report on Empire State Manufacturing Index indicates that business activity declined for a third consecutive month for New York manufacturers. The headline general business conditions index edged up three points, but remained negative at -11.4. However, increase to -7.6 points was anticipated.The survey indicated that new orders, shipments, and unfilled orders all declined at a steeper pace than last month.

Price indexes suggested that input prices held steady, while selling prices declined at the fastest pace since 2009. Labor market indicators pointed to a continued decline in employment levels and hours worked. Indexes for the sixmonth outlook were little changed from last month, and suggested that optimism about future conditions remained tepid.

After the data USD edged higher. Euro is currently being traded around 1.1410 area, Aussie is few points above 0.73 handle, while Sterling is at 1.5430 level.Later today, Philly Fed Manufacturing Index figures are scheduled for a release.

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