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U.S. Weekly Jobless Claims Inch Up To 221,000
(RTTNews) - A report released by the Labor Department on Thursday showed a modest rebound by first-time claims for U.S. unemployment benefits in the week ended November 2nd.
The Labor Department said initial jobless claims crept up to 221,000, an increase of 3,000 from the previous week's revised level of 218,000.
Economists had expected jobless claims to rise to 221,000 from the 216,000 originally reported for the previous week.
The uptick came a week after jobless claims dropped to their lowest level since hitting 216,000 in the week ended May 18th.
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Largely reflecting a sharp pullback in prices for trade services, the Labor Department released a report on Wednesday unexpectedly showing a modest decrease by U.S. producer prices in month of August. The Labor Department said its producer price index for final demand edged down by 0.1 percent in August after climbing by a downwardly revised 0.7 percent in July.
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