Initial Jobless Claims Down, CPI Up Thursday, October 15, 2:05 PM ET
This morning, the US Department of Labor released initial jobless claims from last week. The data showed claims dropped by 10,000 to 514,000 claims, holding right above the 500,000 claim threshhold. Jobless claims have been on the decline in recent weeks as the four week moving average also fell by 9,000 to 531,500 claims per week.
Despite the encouraging data, layoffs continue to be in the news. In the past two weeks, Caterpilar (NYSE:CAT), Verizon (NYSE:VZ) and eBay (NASDAQ:EBAY) have all announced fresh rounds of job cuts.
Additionally, the Bureau of Labor Statistics announced that the Consumer Price Index rose 0.2 percent in September. Price increases in energy were offset by declines in food prices. Food prices have fallen in six of the last eight months, while energy remains volatile month to month.
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