Following the expiration of enhanced UI programs, including #PUA and #PEUC, a total of 3.3 million workers claimed benefits the week ending October 2. The number of Americans receiving unemployment support for at least two weeks also dipped: Equitable Growth continued claims, also referred to as insured unemployment, was 2.2 million the week ending October 9. The more this continues, the greater the challenge to separating taper from rates. Will reinforce the move among more #Fed officials judging that the "substantial further progress test" has been met. El-Erian 290,000, weekly US initial jobless claims again came in better than expected. It shows that US firms are still holding onto workers, with vacancies near record levels, despite the ongoing supply chain disruption, Delta outbreaks, and signs that consumer confidence has weakened. That’s closer to the pre-pandemic levels, when initial claims were in the low 200,000s. Stripping out seasonal adjustments, and jobless claims dropped by over 24,000 to 256,403 last week. Initial claims declined with respect to the previous week. Equitable Growth the week ending October 16, 256,304 workers filed for regular #UnemploymentBenefits. That’s the lowest level for initial claims since March 14, 2020, just before pandemic lockdowns drove jobless claims to record highs. Just 290,000 Americans filed new claims for unemployment insurance last week, a 6,000 fall on the previous week. US initial jobless claims have dipped to a new pandemic low. The survey’s future indexes indicate that respondents continue to expect growth over the next six months. E4WhvyQVxo OctoPhiladelphia Fed addition, the price indexes remain elevated and continue to suggest widespread increases in prices. Philadelphia Fed activity in the region continued to expand this month, according to the firms responding to the October Manufacturing Business Outlook Survey.
The survey, used as a gauge for US industry more widely, also found that manufacturing activity in the region continued to expand this month, but at a slower rate, while new orders increased. Over 58% of the firms reported increases in prices received for their own goods this month, 7 % reported decreases, and 34% reported no change. Some 73% of firms surveyed reported an increased in input prices, while just 3% saw a reduction. The latest ‘Philly Fed’ survey shows that factories in the Philadelphia region continued to pay high charges for raw materials and parts, and passed those costs on. Manufacturers in Philadelphia are also being hit by rising costs, as the global supply chain problems rumble on. Its share price enjoyed a mild bump today after decent trading results and basking in the vicarious glow, Reckitt Benckiser was one of the FTSE 100’s biggest winners today.Įuropean markets also closed lower, with Germany’s DAX and France’s CAC losing around 0.3%. This week’s slate of earnings reports from both sides of the Atlantic have added their own side of discomfort with company after company warning that supply issues and price hikes aren’t going to be a flash in the pan and are going to impact earnings going forward.įor businesses like consumer goods giant Unilever those prices can and are being passed on to the consumer, to a point. “Mining stocks have been unable to shake investor concerns sparked by yet another twist in the Evergrande saga and their trajectory helped kept London’s blue-chip index firmly in the doldrums today.