US jobless claims near 44-½ year low
Data supports expectations of a sharp rebound in job growth in October
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THE number of Americans filing for unemployment benefits fell to a near 44-½ year low last week, supporting expectations of a sharp rebound in job growth in October after employment was depressed by hurricane-related disruptions in September.
Other data on Thursday showed worker productivity increased at its fastest pace in three years in the third quarter. A tightening labour market and improving productivity will likely strengthen the case for the Federal Reserve raising interest rates in December, despite wage pressures remaining tame.
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