US DATA: Initial unemploy claims -15k to a still high 358k in the - TopicsExpress



          

US DATA: Initial unemploy claims -15k to a still high 358k in the Oct 12 wk but this reflects govt shutdown effects (cuts in pvt jobs as well) and the number is likely to decline sharply ahead after these two wks of elevation. It compares to 311k in mid-Sept and implies a poor showing for Oct NFP. Federal employees are not included in the headline number-- there were another 70k fedl claims in the Oct 5 week, mainly in states of MD, TX, PA, UT and WA. Underlying trend for claims appears close to 310k, and we would expect claims to steady there in late Oct. Continuing claims were also reported -43k to 2.859m in the Oct 5 week. source: Market News International (MNI)
Posted on: Thu, 17 Oct 2013 12:31:31 +0000

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