Initial Claims dropped down to 457,000 for the week ending 11/28, better than the expected increase to
477,000, following a revised level of 462,000 from the previous week. The 4-week moving average was 481,250, a decrease of 14,250 from the previous week’s revised average of 495,500. Seasonally adjusted insured unemployment from the prior week, ending on 11/21, was 5,465,000, an increase of 28,000 from the preceding week’s revised level of 5,437,000. Seasonally adjusted insured unemployment rate from the week ending on 11/21, was 4.1%, unchanged from the previous week’s unrevised figure.
Nonfarm Productivity for the 3rd quarter was revised to an 8.1% gain, lower than the preliminary estimates of a 9.5% gain. Nonfarm productivity increased by 6.9% in the 2nd quarter of 2009, after an increase of 0.3% in the 1st quarter this year, after it fell by 0.6%in the 4th quarter of 2008 and increased by 1.5% in the 3rd quarter of 2008. This was the largest gain in productivity since the third quarter of 2003, and reflects a 2.9 percent increase in output and a 4.8 percent decline in hours worked. Unit Labor Costs were revised downward to a 2.5% decline in the 3rd quarter, revised downward from preliminary estimates of a 5.2% decrease and the expected 4.2% decline, following a 5.9% decrease in the figure from the 2nd quarter, revised downward from a 5.8% decline.
Upcoming Releases
Unemployment Rate (12/04 at 8:30 AM EST)
Non farm payrolls (12/04 at 8:30 AM EST)
Factory Orders (12/04 at 10:00 AM EST)
Average Hourly Earnings (12/04 at 8:30 AM EST)
