The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but there is no material shift in labor market conditions, with demand for workers strong and shortages rampant.
Initial claims for state unemployment benefits increased 1,000 to a seasonally adjusted 203,000 for the week ended May 7, the highest since February, the Labor Department said on Thursday. Economists polled by Reuters had forecast 195,000 applications for the latest week.
Claims have been largely treading water since hitting a more than 53-year low of 166,000 in March. Economists blamed the second straight weekly increase on volatility in the data around moving holidays like Easter, Passover and school spring breaks.There were a record 11.5 million job openings on the last day of March, and nonfarm payrolls rose 428,000 in April, the 12th straight month of employment gains in excess of 400,000. Claims have dropped from an all-time high of 6.
The Fed last week raised its policy interest rate by half a percentage point, the biggest hike in 22 years, and said it would begin trimming its bond holdings next month. The U.S. central bank, which started raising rates in March, is hoping to bring the demand and supply of labor back in alignment. Tight labor market conditions are boosting wages, helping to keep inflation unbearably high. But there are signs inflation has probably peaked, at least when measured on an annual basis.producer price index for final demand rose 0.5% in April as gains in the cost of energy products moderated. The PPI surged 1.6% in March. In the 12 months through April, the PPI increased 11.0% after accelerating 11.5% in March.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
US: Weekly Initial Jobless Claims rise slightly to 203K vs. 195K expectedThere were 203,000 Initial Jobless Claims in the week ending on 7 May, a little above the expected drop to 195,000 from 202,000 one week ago, data rel
Les mer »
U.S. Ammonia Prices Rise in Response to Higher International Natural Gas PricesAmmonia prices: The U.S. price of ammonia, the primary source of nitrogen fertilizer, has risen by a factor of six in the past two years
Les mer »
Wholesale Inflation Rose 11% in April as Producer Prices Keep AcceleratingProducer prices were expected to increase 0.5% in April, according to economists surveyed by Dow Jones.
Les mer »
Occidental profit tops estimates on oil prices despite lower outputU.S. oil and gas producer Occidental Petroleum Corp beat Wall Street's earnings estimates and swung to a profit from a year-ago loss, buoyed by soaring oil prices.
Les mer »
Oil futures remain higher despite 8.5 million barrel rise in crude inventoriesOil futures held on to gains Wednesday despite a large and unexpected rise in crude inventories. The Energy Information Administration said U.S. crude stocks...
Les mer »