US Unemployment Claims at a six-week high

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Thursday, Nov 16 2017

US Unemployment Claims at a six-week high

U.S. filings for unemployment benefits rose to a six-week high, a move that may partly owe to volatility around the Veterans Day holiday, Labor Department figures showed Thursday. Jobless claims increased by 10k to 249k (est. 235k). Continuing claims fell by 44k to 1.86m in week ended Nov. 4, lowest since Dec. 1973 (data reported with one-week lag). Four-week average of initial claims, a less-volatile measure than the weekly figure, rose to 237,750 from the prior week’s 231,250.

U.S. industrial production jumped a solid 0.9 percent in October as factory activity recovered from the impact of Hurricanes Harvey and Irma. The Federal Reserve says that manufacturing activity surged 1.3 percent last month. Many of the gains came from a sharp increase in the production of chemical and petroleum and coal products. Motor vehicles and metals also posted decent gains. Mining activity slipped 1.3 percent in October as Hurricane Nate caused a brief decline in oil and gas drilling. Production at utilities rose 2 percent. Over the past year, industrial production has increased 2.9 percent.

More in this category: « Eurozone Final CPI down to 1.4% New Motor Vehicle Sales unchachanged »

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