US jobless claims and producer prices rise

first_img whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse Prices paid by US factories picked up pace in March as the disruption caused by Japan’s earthquake began to be felt in the auto industry and fuel prices rose strongly.Another report has also showed a surprise jump in US jobless claims that raised some questions among investors about the health of the labour market recovery, though economists said the number could be a one-off.Core US producer prices rose slightly faster than expected in March from February and the increase from a year ago was the largest since August 2009.The Labor Department said its seasonally adjusted index for prices paid at the farm and factory gate – excluding volatile food and energy costs – rose 0.3 per cent after gaining 0.2 per cent in February.Light trucks prices advanced 0.7 per cent, the biggest rise since July and accounted for a third of the gain in the core PPI. Passenger vehicle prices increased 0.9 per cent, the largest increase since June 2009.“It looks like the disruption to global autos production stemming from the Japanese disaster will hit autos supply and, consequently could lead to some further steep price increases over the next few months,” said Paul Ashworth, chief US economist at Capital economics in Toronto.In the 12 months to March, the core producer price index rose 1.9 per cent, the biggest increase since August 2009 and speeding up from February’s 1.8 per cent rise.In the 12 months to March, producer prices overall rose 5.8 per cent, the largest gain in a year. The monthly gain slowed to 0.7 per cent, below the one per cent expected by economists.A second report from the Labor Department showed initial claims for state unemployment benefits rose 27,000 to a seasonally adjusted 412,000, well above economists’ expectations for a fall to 380,000.Economists have noted an increase in claims often at the end of a quarter.The four-week moving average of unemployment claims – a better measure of underlying trends – climbed 5,500 to 395,750.The rise in claims interrupted a downward trend that had kept them below the 400,000 threshold for four weeks. US jobless claims and producer prices rise Tags: NULL alison.lock Share Show Comments ▼ whatsapp Thursday 14 April 2011 3:17 pmlast_img read more