US initial jobless claims dropped -4k to 231k in the week ending December 1, above expectation of 226k. Four-week moving average of initial claims rose 4.25k to 228.0k. Continuing claims dropped -74k to 1.631M in the week ending November 24. Four-week moving average of continuing claims rose 250 to 1.667M.

Also released, US trade came in at USD -55.5B in October, slightly wider than expectation of USD -55.2B. Non-farm productivity was revised down to 2.3% in Q3 and unit labor cost revised down to 0.9%. From Canada trade deficit came in wider than expected at CAD -1.2B in October.

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