Per the US Department of Labor in the week ending January 7, the advance figure for seasonally adjusted initial claims was 205,000, a decrease of 1,000 from the previous week’s revised level. The previous week’s level was revised up by 2,000 from 204,000 to 206,000. The 4-week moving average was 212,500, a decrease of 1,750 from the previous week’s revised average. The previous week’s average was revised up by 500 from 213,750 to 214,250.
The advance seasonally adjusted insured unemployment rate was 1.1 percent for the week ending December 31, a decrease of 0.1 percentage point from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending December 31 was 1,634,000, a decrease of 63,000 from the previous week’s revised level. The previous week’s level was revised up 3,000 from 1,694,000 to 1,697,000. The 4-week moving average was 1,679,500, a decrease of 8,750 from the previous week’s revised average. The previous week’s average was revised up by 750 from 1,687,500 to 1,688,250.
The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a seasonally adjusted basis, after increasing 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.5 percent before seasonal adjustment.
The index for gasoline was by far the largest contributor to the monthly all items decrease, more than offsetting increases in shelter indexes. The food index increased 0.3 percent over the month with the food at home index rising 0.2 percent. The energy index decreased 4.5 percent over the month as the gasoline index declined; other major energy component indexes increased over the month.
The index for all items less food and energy rose 0.3 percent in December, after rising 0.2 percent in November. Indexes which increased in December include the shelter, household furnishings and operations, motor vehicle insurance, recreation, and apparel indexes. The indexes for used cars and trucks, and airline fares were among those that decreased over the month.
The all items index increased 6.5 percent for the 12 months ending December; this was the smallest
12-month increase since the period ending October 2021. The all items less food and energy index rose 5.7 percent over the last 12 months. The energy index increased 7.3 percent for the 12 months ending December, and the food index increased 10.4 percent over the last year; all of these increases were smaller than for the 12-month period ending November.
In the UK Monthly real gross domestic product (GDP) is estimated to have grown by 0.1% in November 2022, following growth of 0.5% (unrevised from previous publication) in October 2022. Looking at the broader picture, GDP fell by 0.3% in the three months to November 2022.
The services sector grew by 0.2% in November 2022, after growth of 0.7% (revised up from a growth 0.6% in previous publication) in October 2022; the largest contributions came from administrative and support service activities and information and communication.
Output in consumer-facing services grew by 0.4% in November 2022, following growth of 1.5% (revised up from a growth of 1.2% in previous publication) in October 2022; the largest contribution to growth came from food and beverage service activities in a month where the FIFA World Cup started.
Production output decreased by 0.2% in November 2022, after a fall of 0.1% (revised down from flat in previous publication) in October 2022; manufacturing was the main driver of negative production growth in November 2022, partially offset by a positive contribution from mining and quarrying.
The construction sector was flat in November 2022 after growth of 0.4% (revised down from growth of 0.8% in previous publication) in October 2022.