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U.S. Labor Productivity, Unit Labor Costs Jump Less Than Expected In Q4
(RTTNews) - A report released by the Labor Department on Thursday showed U.S. labor productivity and unit labor costs both increased by less than expected in the fourth quarter of 2024.
The Labor Department said labor productivity shot up by 1.2 percent in the fourth quarter after surging by an upwardly revised 2.3 percent in the third quarter. Economists had expected labor productivity to jump by 1.7 percent.
Meanwhile, the report said unit labor costs spiked by 3.0 percent in the third quarter after rising by a downwardly revised 0.5 percent in the third quarter. Economists had expected unit labor costs to soar by 3.8 percent.
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U.S. Leading Economic Index Falls Slightly More Than Expected In February
A report released by the Conference Board on Thursday showed its reading on leading U.S. economic indicators fell by slightly more than expected in the month of February. The Conference Board said its leading economic index decreased by 0.3 percent in February after slipping by a revised 0.2 percent in January.
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U.S. Existing Home Sales Unexpectedly Surge 4.2% In February
After reporting a sharp pullback by U.S. existing home sales in the previous month, the National Association of Realtors released a report on Thursday showing existing home sales unexpectedly rebounded in the month of February. NAR said existing home sales surged by 4.2 percent to an annual rate of 4.26 million in February after tumbling by 4.7 percent to a revised rate of 4.09 million in January.
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Philly Fed Index Extends Pullback But Still Indicates Growth In March
A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing activity expanded overall but was less widespread in the month of March. The Philly Fed said its diffusion index for current general activity slid to 12.5 in March after plunging to 18.1 in February, although a positive reading still indicates growth.
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U.S. Weekly Jobless Claims Inch Up To 223,000
First-time claims for U.S. unemployment benefits crept slightly higher in the week ended March 15th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims inched up to 223,000, an increase of 2,000 from the previous week's revised level of 221,000. Economists had expected jobless claims to rise to 224,000.
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Philly Fed Index Drops Less Than Expected In March
A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing activity expanded overall but was less widespread in the month of March.
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U.S. Weekly Jobless Claims Inch Slightly Higher
First-time claims for U.S. unemployment benefits crept slightly higher in the week ended March 15th, according to a report released by the Labor Department on Thursday.
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Fed Leaves Interest Rates Unchanged, Still Sees Rate Cuts This Year
In an almost universally expected move, the Federal Reserve on Wednesday announced its decision to once again leave interest rates unchanged, but projections signaled the central bank is still likely to lower rates later this year. The Fed said it decided to maintain the target range for the federal funds rate at 4.25 to 4.50 percent.
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U.S. Industrial Production Climbs 0.7% In February, Much More Than Expected
The Federal Reserve released a report on Tuesday showing industrial production in the U.S. increased by much more than expected in the month of January. The report said industrial production climbed by 0.7 percent in February after climbing by a downwardly revised 0.3 percent in January.
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