Dr. Peter Morici: Huge US Productivity leap signals no wage-price spiral; Weekly jobless claims rise
Sep 4th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
In addition to the data on the US productivity leap, which signals the absence of a wage-price spiral, a separate report report from the US Labor Department, showed that the number of US workers filing new claims for unemployment benefits unexpectedly rose last week, suggesting more falls in nonfarm payrolls. That figure and the four-week moving average of initial claims -- a more reliable indicator of labor market health -- remain in ranges typically associated with recessions.
Initial claims for jobless benefits jumped by 15,000 to a seasonally adjusted 444,000 in the week ended Aug. 30th.