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U.S. weekly jobless claims unexpectedly drop, consumer prices unexpectedly unchanged

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Christian Fernsby ▼ | October 10, 2019
A report released by the Labor Department showed a modest decrease in first-time claims for U.S. unemployment benefits in the week ended October 5th.
Unemployed people in the U.S.
America   Unemployed people in the U.S.
The report said initial jobless claims dropped to 210,000, a decrease of 10,000 from the previous week's revised level of 220,000.

Topics: U.S. jobless claims consumer prices

The Labor Department said the less volatile four-week moving average crept up to 213,750, an increase of 1,000 from the previous week's revised average of 212,750.

The report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also rose by 29,000 to 1.684 million in the week ended September 28th.

Consumer prices in the U.S. were essentially flat in the month of September, according to a report released by the Labor Department on Thursday, with higher prices for shelter and food offset by declines in prices for energy and used cars and trucks.

The Labor Department said its consumer price index was unchanged in September after inching up by 0.1 percent in August. Economists had expected another 0.1 percent uptick.

Energy prices extended the steep drop seen in the previous month, tumbling by 1.4 percent in September after plunging by 1.9 percent in August. Gasoline prices led the way lower once again.

Meanwhile, the report said food prices inched up by 0.1 percent in September after coming in unchanged for three straight months.