The Labor Department has two key reports out showing somewhat differing trends. The Producer Price Index, ow wholesale inflation, met Weekly Jobless Claims. Jobs are headed the wrong way and producer prices rose on the headline data.
Weekly Jobless Claims rose by 13,000 to 462,000 for the week. Bloomberg had estimates pegged at 443,000 for the week ahead. The prior week had been previously reported as 445,000 and was revised to 449,000. The army of unemployed measured by the continuing jobless claims fell by about 112,000 to 4.399 million.
The decent news will come from wholesale inflation. The deadline Producer Price Index data rose as PPI came in at +0.4%. If you use Core-PPI taking out food and energy that rise was a mere 0.1% for September. Bloomberg was expecting estimates of 0.1% on BOTH headline and core PPI data.
Jobs are headed the wrong way. That hasn’t changed. Inflation is still too low for the FOMC comfort zone, although some members were probably happy to see that 0.4% on the headline data.
JON C. OGG
It’s Your Money, Your Future—Own It (sponsor)
Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.
If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.