Fundamentals 11/3: Jobless Claims OK

Initial Jobless Claims
-397,000 for the week ended October 29
-Down 9,000 from previous week’s revised 406,000 (was 402k)
-4-week moving average 404,500, down 2,000
-BLS Jobs will be released tomorrow.

Worker Productivity and Costs
-Nonfarm productivity – (3rd Q2011) +3.1 %
-Unit labor costs – (3rd Q2011) -2.4 %
-Productivity is GDP/hours worked.
-This report could make one decide to join OWS.