HALISTER1: U.S ECO PREVIEW: Jobless Claims, Productivity Due in 5 Minutes

U.S ECO PREVIEW: Jobless Claims, Productivity Due in 5 Minutes

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News:
  • Productivity 1% q/q; range 0% to 2% (51 estimates)
  • Unit Labor Costs 1.9% q/q; range -0.5% to 6.1% (44 estimates)
    • Productivity seen "extending its dismal multi-year run of tepid growth": Stephen Stanley, economist at Amherst Pierpont
    • Prior quarter’s 3.1% increase was first gain in three quarters, largest advance since 3Q 2014
  • Initial Claims 250k; range 240k to 265k (41 estimates)
  • Cont. Claims 2062k; range 2050k to 2080k (4 estimates)
    • Recent claims data reflect "strong labor market conditions" even with prior report’s increase to four week high: Bloomberg Intelligence
    • "The seemingly out-sized gain was likely a function of post-holiday layoffs and the winter shuttering of business activity, which has injected volatility into the data": BI
    • Claims have remained below 300k for 99 weeks, longest since 1970
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Stephen Stanley (Amherst Pierpont Securities LLC)

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