US initial jobless claims surged 49k to 253k in the week ending December 7, well above expectation of 211k. That’s also the highest level since September 30, 2017. Four-week moving average of initial claims rose 6.25k to 224k.
Continuing claims dropped -31k to 1.667m in the week ending November 30. Four-week moving average of continuing claims dropped -6.25k to 1.676m.
PPI came in at 0.0% mom, 1.1% yoy in November, below expectation of 0.2% mom, 1.2% yoy. Core PPI was at -0.2% mom, 1.3% yoy, below expectation of 0.2% mom, 1.6% yoy.
