US initial jobless claims drops as expected to 271K

FXStreet (Mumbai) - The initial jobless claims fell continue to hover near four decade lows last week; a sign the labour market continues to strengthen towards full employment levels.

The number printed at 271K in the week ended Nov. 14 as expected from the previous week’s 276K. The number of claims dipped to 255,000 in mid-July, the fewest since the 1970s.

The four-week moving average of the claims, which presents a better picture of the labour market, climbed to 270,750 from 267,750 the week before. Meanwhile, continuing claims fell by 2,000 to 2.18 million in the week ended Nov. 7.

Elsewhere, the Philly Fed business outlook improved to 1.9 compared to the expected figure of -1.0.

Key Points

Employment +2.60 vs -1.70 prior

New orders -3.70 vs -10.60 prior

Prices paid -4.9 vs -0.10 prior

Capex 25.9 vs 7.20 prior

Inventories -7.9 vs -17.4 prior