Archive for the ‘Labor Department’ tag
July Core CPI Up 0.3% as Total Inflation Rises 0.8%
The seasonally adjusted Consumer Price Index rose
more than expected on both fronts, as the core rate ticked up 0.3%
(0.327%) in July, contributing to a 2.5% year-over-year change. Total
inflation rose 0.8% (0.818%) in the month and 5.6% on the year, according
to data released by the U.S. Labor Department on Thursday.
Initial Jobless Claims are "Useless" Due to Distortion, Economist Says
Claims for unemployment benefits in the U.S. rose to their highest
level since March 2002 with 455k initial claims reported
in the week ending Aug. 2, but economists say new rules that make it
easier to file a claim is putting upward pressure on the figures.
“The larger than expected rise is not a complete shock,” said TD
Securities economics strategist Charmaine Buskas. “The labor department
did recently announce a 13 week extension to the benefits period and this
has clearly caused a huge influx of re-filers.”
U.S. June Core CPI Up 0.3% as Total Inflation Surges 1.1%
The seasonally adjusted U.S. Consumer Price Index
rose more than expected on both fronts, as the core rate ticked up 0.3%
(0.323%) in June, contributing to a 2.4% year-over-year change, and total
inflation rose 1.1% (1.056%) in the month and 5.0% on the year, according
to data released by the U.S. Labor Department on Wednesday.