**MNI 5 Things: US Productivity +2.3%, Unit Labor Costs +0.9%>

--US Trade Gap Widened To -$55.5b, Census Goods Gap Widened To -$77.0b 

--Initial Jobless Clams Down 4,000 To 231,000 in December 1 Week

--5 Things We Learned From Thursday's Data Releases

By Shikha Dave and Harrison Clarke

     WASHINGTON (MNI) - The following are the key points from the US 

initial claims, international trade, and nonfarm productivity reports 

released Thursday morning: 

     - Third quarter nonfarm productivity was revised up from the 2.2% 

rate reported in the preliminary estimate despite no revisions to

output and hours worked in the third quarter. Analysts had expected no 

revision to productivity. As a result, unit labor costs were revised 

down to a 0.9% pace from the 1.2% increase reported in the preliminary 

estimate. There was no revisions to the rate of productivity in the 

second quarter but unit labor costs were revised down.                                     

     - On a year/year basis, productivity rose 1.3% in the third quarter                   

after a 1.3% rise in the second quarter. Unit labor costs were up 0.9% 

year/year after a 1.4% rise in the previous quarter. 

     - The overall October trade gap was widened to $55.5 billion from 

$54.6 billion in September, more than the $55.0 billion gap expected. 

The October gap was wider than the average in the third quarter. The 

Census goods gap widened to $77.0 billion from $76.3 billion in 

September. The advance estimate of the October Census goods gap was 

$77.2 billion. 

     - Exports fell in October, with a $0.7 billion decrease in foods, 

feeds, and beverages, a $0.5 billion fall in capital goods ex auto, and 

a $0.2 billion decline in autos. These were offset by increases in 

industrial supplies and materials and consumer goods. Imports rose in 

October, with a $0.2 billion rise in foods, feeds, and beverages, a $0.7 

billion rise in autos, as well as increases of $2.0 billion in 

consumer goods. These were offset by declines in industrial supplies 

and materials and capital goods ex auto.

     - Initial jobless claims were down 4,000 in the December 1 week. 

The four-week average for initial claims, which tends to be a more 

reliable measure as initial claims consistently fluctuate week-to-week, 

rose by 4,250 to 228,000. Seasonal factors had expected initial claims 

to rise by 102,401. Continuing claims fell by 74,000 to 1.631 million in 

the November 24 week. The seasonally adjusted insured unemployment rate 

fell to 1.1% in the November 24 week. Claims were not estimated for any 

states.  

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]