Thursday, October 15, 2009

Quick Notes for the Day - October 15

Initial Jobless Claims Drop - The Labor Department reported that initial applications for state unemployment benefits fell by 10,000 to a seasonally adjusted 514,000 last week. This is the fifth decline in six weeks. The number of people collecting state benefits fell by 75,000 to a seasonally adjusted 5.99 million in the week ending Oct. 3, the lowest since March. Including federal programs, the number of people claiming benefits of any kind in the week ending Sept. 26 was 9.24 million, not seasonally adjusted, down 127,000 from 9.36 million in the previous week.

CPI Rises 0.2% - The Labor Department reported that the Consumer Price Index (CPI) increased a seasonally adjusted 0.2% in September due to higher prices for cars, energy and medical care that offset the first declines ever recorded in residential rents and home ownership costs. The core CPI (does not include food or energy) also increased 0.2% in September on a seasonally adjusted basis. In the past year, the CPI has fallen 1.3%, while the core rate has risen 1.5%. Prices for food have fallen for the first time in more than 40 years in a year over year comparison with priced dropping 0.2% from 2008 to 2009.

October's Empire State Index Highest in 5 Years - Manufacturing activity in New York rose to its highest level in five years in October, the New York Federal Reserve Bank said Thursday. The bank's Empire State Manufacturing index rose to 34.6 in October from 18.9 in September. The new orders index climbed in October, while shipments shot up 30 points. The employment index was positive for the first time in more than a year.

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