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Initial unemployment claims -3k to 223k vs..>

US DATA
US DATA: Initial unemployment claims -3k to 223k vs 225k MNI expected.
- Q4 nonfarm productivity +1.9% (+1.8% y/y) vs +1.7% MNI expected, ULC 
+2.0% (+1.0% y/y) vs +1.7% MNI expected. 
- Q3 productivity rev down to +1.8% vs prev +2.2%, while ULC rev up to 
+1.6% vs prev +0.9%.
- Annual avg for productivity +1.3% in 2018 vs +1.1% in 2017. ULC +1.4% 
in 2018 vs 2.2% in 2017
- The 4-wk moving avg for claims -3,000 to 226,250, could fall next week. 
- Overall, the data suggest higher labor costs, as compensation growth
accelerated sharply to outpace the slightly faster pace of productivity 
growth.

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