Initial Claims increased to 412,000, for the week ending 04/09, against the expected decrease to 378,000, after decreasing to 385,000, the revised level for the previous week. This increase interrupts a downward trend that has kept jobless claims below the 400,000 level for four weeks. The 4-week moving average increased to 395,750, from the previous week’s revised average of 390,250. Seasonally adjusted insured unemployment from the prior week, ending on 04/02, was 3,680,000, a decrease of 58,000 from the preceding week’s revised level of 3,738,000. Seasonally adjusted insured unemployment rate from the week ending on 04/02, was 2.9%, a decrease of 0.1% from the previous week’s unrevised figure of 3.0%.
The Producer Price Index increased by 0.7% in March to 189.4(1982=100), lower than the expected 1.0% increase, following a 1.6% increase in February and a 0.8% increase in January. Over the year, the index has advanced 5.8%, the largest 12-month increase since a 5.9% rise in March 2010. The index for energy goods increased by 2.6% in March, the sixth straight monthly increase. Over 80% of the March increase can be attributed to the gasoline index, which surged 5.7%. However, prices for consumer foods decreased 0.2%, the first decline since August 2010. Leading the March decrease, the index for fresh and dry vegetables dropped 21.4 percent. Excluding food and energy prices, Core PPI increased by 0.3% after increasing by 0.2% in February. Around a third of this increase is attributable to prices for light motor trucks, which rose 0.7%.
Upcoming Releases
CPI (04/15 at 8:30 AM EST)
Net Foreign Purchases (04/15 at 9:00 AM EST)
Industrial Production (04/15 at 9:15 AM EST)
Housing Starts (04/19 at 8:30 AM EST)
