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5/14/18-Year Linkers - Auction History

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By Kevin Kastner, Holly Stokes and Sara Haire
     WASHINGTON (MNI) - The following are the key points from the 
unemployment insurance weekly claims data for the October 28 week from 
the Labor Department and the preliminary third quarter productivity 
report from BLS, both released Thursday: 
     - Initial jobless claims fell by 5,000 to 229,000, compared with 
expectations for a 235,000 level. At the same time, the four-week moving 
average fell 7,250 to 232,500 as the 258,000 level from the September 30 
week fell out of the equation, the lowest average level since the April 
7, 1973 week and confirming claims are back on their pre-hurricane 
track. 
     - Continuing claims fell 15,000 to 1.884 million in the October 21 
week, hitting the lowest level since the December 29, 1973 week. 
     - Unadjusted claims in Puerto Rico jumped 2,682 to 6,129 (+77.8%), 
as backlogged claims are starting to be processed.     
     - Third quarter nonfarm productivity rose 3.0% (strongest since 3Q 
2014), slightly ahead of the 2.9% gain expected, while unit labor costs 
were up 0.5% rather than the 0.6% rise expected. In addition, the 
revisions to the second quarter were very modest, so no large surprises 
from this report. 
     - The year/year pace of productivity growth accelerated modestly to 
1.5% (strongest since 2Q 2015) in the third quarter from 1.3% in the 
second quarter, while unit labor costs now stand 0.1% lower than they 
were a year ago, only slightly better than the 0.2% year/year decline in 
the second quarter. 
     ** MNI Washington Bureau: 202-371-2121 ** 
[TOPICS: MAUDS$,M$U$$$,MAUDR$] 

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