US initial jobless claims was unchanged at 230k in the week ending April 27, above expectation of 220k. Four-week moving average of initial claims rose 6.5k to 212.5k. Continuing claims rose 17k to 1.671m in the week ending April 20. Four-week moving average of continuing claims dropped -13.75k to 1.674m.
Also released, non-farm productivity rose 3.6% in Q1, much higher than expectation of 1.2%. Unit labor cost dropped -0.9%, much lower than expectation of 2.1%.
