Jobless Claims, Business Inventories Fall

Jan. 13, 2005
By John S. McClenahen Confounding the consensus forecast that initial claims for unemployment insurance would rise to 380,000 for the week ending Feb. 9, they actually fell to 373,000, some 8,000 fewer than the previous week's revised figure of ...
ByJohn S. McClenahen Confounding the consensus forecast that initial claims for unemployment insurance would rise to 380,000 for the week ending Feb. 9, they actually fell to 373,000, some 8,000 fewer than the previous week's revised figure of 381,000, reveal data from the U.S. Labor Department. In addition, the four-week moving average for jobless claims fell to 376,000, some 5,500 fewer than the running average for the week ending Feb. 2 and their lowest level since mid-August 2001. "If claims remain around current levels, February employment should show little change from January -- and might even rise," says Gerald D. Cohen, a senior economist at Merrill Lynch & Co., New York. In a separate report from the U.S. Commerce Department, business inventories were pegged at $1.14 trillion at the end of December, down 0.4% from their November 2001 mark. "Retail inventories, the only new piece of data in this report, declined 0.1% as a 0.1% increase in auto inventories was offset by a 0.2% decline in non-auto retailers' inventories," notes Cohen. At the end of December, the inventory-to-sales ratio was 1.39, a near-record low.

Popular Sponsored Recommendations

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!