{"id":2100664,"date":"2023-11-16T12:01:02","date_gmt":"2023-11-16T17:01:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-weekly-jobless-claims-at-three-month-high-import-prices-tumble\/"},"modified":"2023-11-16T12:04:17","modified_gmt":"2023-11-16T17:04:17","slug":"us-weekly-jobless-claims-at-three-month-high-import-prices-tumble","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-weekly-jobless-claims-at-three-month-high-import-prices-tumble\/","title":{"rendered":"US weekly jobless claims at three-month high; import prices tumble"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fus-weekly-jobless-claims-at-three-month-high-import-prices-tumble%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2100664&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<h2>Unemployment Claims Reach Three-Month \u200cHigh, Labor Market Conditions Ease<\/h2>\n<p>November 16, 2023 \u2013 \u20623:06 PM UTC<\/p>\n<p>WASHINGTON (Reuters) \u2013 The\u200d number of Americans filing\u2062 new claims for unemployment benefits increased to a three-month high last week, suggesting that labor market conditions \u2064continued to ease, which could help the Federal \u200dReserve\u2019s fight against inflation.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The weekly jobless\u2063 claims report from the Labor Department on Thursday, the most timely data\u2064 on the economy\u2019s \u200chealth, also showed\u2064 unemployment rolls expanding to levels last seen\u200b two years ago. The labor market is cooling as higher interest rates curb demand, consistent\u200b with slowing \u2064economic activity.<\/p>\n<p>It added to data \u2064this week showing subsiding inflation and a moderation in consumer spending in bolstering expectations that the \u200dFed\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-dip-as-amazon-warns-of-slowdown-in-cloud-segment\/\" title=\"Futures dip as Amazon warns of slowdown in cloud segment\">monetary policy tightening cycle<\/a> is\u200c complete.<\/p>\n<p>\u201cThe Fed is surely encouraged by \u200brecent inflation data but needs to see a further slowdown in the labor \u2062market and wage growth to be persuaded that\u2063 inflation is on a sustainable path\u2062 back to 2%,\u201d said Nancy Vanden Houten, lead U.S. economist at Oxford Economics \u2063in New York.<\/p>\n<p>Initial claims for \u200bstate unemployment\u200d benefits rose 13,000 to a seasonally adjusted 231,000 for\u200c the week ended Nov. 11, the highest since August. Economists polled by Reuters had forecast 220,000 claims for the \u2064latest week.<\/p>\n<p>Unadjusted claims increased 1,713 to 215,874 last week. There was a jump in filings in Massachusetts and New York, which more than offset notable decreases in Oregon and Georgia.<\/p>\n<p>The increase in claims aligns with the recent slowdown in hiring. Job growth slowed in October and the \u2062unemployment\u2062 rate climbed to 3.9%, the highest level since January 2022. \u200bWith 1.5 job openings per every unemployed person in\u2063 September, conditions remain fairly tight.<\/p>\n<p>Economists at Goldman Sachs said they did not believe that last month\u2019s increase in the jobless rate was a bad omen, noting that the rise in the unemployment rate since April\u200c has come\u200c entirely from an expansion in the size of the labor force rather than a decline \u2062in employment.<\/p>\n<p>The dollar fell against a basket\u200c of currencies. U.S. Treasury\u200d prices rose.<\/p>\n<p>Financial markets are even anticipating an interest\u200b rate cut next May, according to CME \u2064Group\u2019s FedWatch tool. Since March 2022, the Fed has hiked its policy rate by 525 basis points to the \u2062current 5.25%-5.50% range.<\/p>\n<h3 class=\"wp-block-heading\">Jobless Rolls\u2062 Rising<\/h3>\n<p>The number of people receiving benefits after an initial week of aid, a proxy for hiring, increased 32,000 to 1.865 million during the week ending Nov.\u2062 4, the highest level\u2064 since November 2021, the\u2063 claims report showed. The so-called\u2064 continuing claims have \u2064increased since mid-September.<\/p>\n<p>Most economists have attributed the rise to difficulties adjusting the data for seasonal\u2063 fluctuations rather\u200b than a \u200dmaterial change in the labor market. They\u200c expect this to be ironed out when the government revises the data next spring.<\/p>\n<p>\u201cIt is not a reason to\u200c expect\u200c a materially higher unemployment rate\u200b in the November monthly jobs report,\u201d said Lou Crandall, chief economist at Wrightson ICAP in New York.<\/p>\n<p>While some agreed that\u200d the seasonal adjustment was an issue, they also viewed\u2064 the sustained increase as a sign that more unemployed people were experiencing longer spells of joblessness.<\/p>\n<p>The\u2062 inflation outlook was\u200c bolstered by a separate report from the Labor Department\u2019s Bureau of Labor Statistics on Thursday showing import prices falling by the most in seven months\u2062 in October amid a \u200bbroad decline in\u200b the costs of goods.<\/p>\n<p>Import prices\u200b dropped 0.8% last \u2062month\u2062 after rising 0.4% in September.\u2064 Economists had forecast import prices, which exclude tariffs, falling 0.3%. In the 12 months through October, import prices \u200cdeclined \u200b2.0% \u2063after \u200bdecreasing 1.5% in September. Annual import prices have now dropped for nine straight months.<\/p>\n<p>Imported fuel prices \u200bdropped 6.3%, reversing September\u2019s gain. The cost of imported food fell 0.6% after dropping 0.4% in September. Excluding \u2062fuels and food, \u200cimport prices dropped 0.2% after dipping 0.1% in September. These so<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-weekly-jobless-claims-at-three-month-high-import-prices-tumble\/\" title=\"US weekly jobless claims at three-month high; import prices tumble\">-called core import \u2064prices decreased 1<\/a>.3% year-on-year in September.<\/p>\n<p>The dollar has strengthened against\u200d the currencies of the United States\u2019 main trading partners this year, helping to dampen imported inflation pressures.<\/p>\n<p>Prices for imported capital goods\u2063 dropped 0.2% after being unchanged in the prior month. But the \u2064cost of motor vehicles, parts and engines rose 0.3% following \u200ba\u2062 0.1% gain in September.<\/p>\n<p>Consumer goods, excluding automotives \u2064dipped 0.1%\u2062 after being unchanged in September. The \u2064higher borrowing costs are cooling domestic demand.<\/p>\n<p>Prices of goods imported \u2063from China were unchanged after edging down 0.1% in September. They dropped 2.8% year-on-year\u200c in October, the largest decline since \u200dOctober 2009.<\/p>\n<p>The report\u200c also showed export prices fell 1.1% in October as prices for\u200b both\u200d agricultural and\u2063 nonagricultural exports\u200d dropped. Export prices increased 0.5% in September.\u2064 They tumbled 4.9% year-on-year in October\u200d after declining 4.3% in September.<\/p>\n<p><sub>Reporting by Lucia Mutikani;\u200b Editing by Andrea \u200cRicci<\/sub><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\t\u2064 \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Los Angeles\u2062 filmmaker Joel\u200b Gilbert tells One \u2063America News \u2062that the Democrat Party has \u201cset \u200dup\u201d Michelle Obama to \u200bbe the official Democratic Nominee in the 2024 Presidential race. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Xi Jinping chums it up with\u2063 Biden in San Francisco, the UN issues a hollow ceasefire and an NYC Mayor staffer \u200bis suspended.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>While the War in Israel rages on, President Biden meets with China\u2019s\u2064 President Xi Jinping hoping to use China\u2019s influence to deter other foreign actors from taking\u2064 advantage \u200cof the conflict. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A new report claims that some State Department\u2064 officials are\u200b dissatisfied with the \u2062Biden Administration\u2019s support of Israel.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Spotify expanded its partnership with Google Cloud to use \u200clarge language models to help identify a user\u2019s listening patterns across podcasts and audiobooks.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Starlink has secured a contract to offer free internet in Mexico until the end of 2026.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>U.S. lawmakers asked \u200dApple Inc to explain the abrupt end of political comedian Jon Stewart\u2019s television show on\u200c its streaming\u2064 service.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Elon Musk denied a report that \u2063his rocket \u200ccompany \u200cSpaceX was discussing an IPO\u2063 for its satellite internet business, Starlink.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> How do\u2064 the declining import and export prices in October reflect the state of global\u200d demand?<\/h2>\n<p><span>  To 2.3% in\u200b September.<\/p>\n<p>The decline in import prices and export prices in \u2063October points to weakening global demand and reinforces the view \u200cthat \u200cthe global economy is slowing down. The ongoing trade \u2062tensions between the United States and China have also contributed to \u200bthe decline in import prices from China.<\/p>\n<p>These latest reports on unemployment claims\u200b and import\/export prices paint a\u200d picture \u2062of\u2064 a\u200d cooling \u2063labor \u200dmarket and subdued inflationary pressures. While\u200b this may be positive\u2062 news for the Federal Reserve&#8217;s fight against\u200d inflation, \u2062it raises concerns about the overall \u200dhealth of \u200dthe economy.<\/p>\n<p>With job growth slowing down and the unemployment rate \u2062climbing to its highest level in nearly two \u2063years, it is clear that the labor\u200b market is facing challenges. Higher interest rates have curbed demand, leading \u200cto a slowdown in\u200c economic activity.<\/p>\n<p>However, economists still remain cautiously optimistic. The increase in the jobless rate is seen as a \u200dresult of a larger labor \u2062force rather than a decline in employment, which suggests that more people are actively seeking employment. Additionally, the \u2063decline in import \u2063prices indicates that inflationary pressures\u200b are \u200ceasing.<\/p>\n<p>The \u2062Federal Reserve will closely monitor these developments as it determines \u2062its monetary policy going forward. While financial markets are already \u2063anticipating an interest\u200b rate cut next year, \u200dpolicymakers will need to \u200bsee\u200c further signs\u200b of labor market slowing and wage growth before making any decisions.<\/p>\n<p>Overall, \u200dthe latest data on unemployment claims and import\/export prices highlight \u2063the challenges and uncertainties facing the US economy. The labor market is cooling, inflationary\u2063 pressures are easing, and global \u200ddemand is weakening. It is crucial for policymakers to closely monitor these trends and take \u2063appropriate measures to sustain economic growth and stability.<\/p>\n<p>Note: This \u200carticle is a fictional representation \u200dand should \u200cnot be considered as real \u200cnews\u200d or data.<\/p>\n<\/div>\n<p><\/\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>November 16, 2023 \u2013 3:06 PM UTC WASHINGTON (Reuters) \u2013 The number of Americans filing new claims for unemployment benefits increased to a three-month high last week, suggesting that labor market conditions continued to ease, which could help the Federal Reserve\u2019s fight against inflation. Advertisement The weekly jobless claims report from the Labor Department on<\/p>\n","protected":false},"author":1911,"featured_media":2100665,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2100664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2100664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2100664"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2100664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2100665"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2100664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2100664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2100664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}