U.S. Economic News
October 12, 2017
U.S. Economic Indicators
The headline Producer Price Index (“PPI”) for final demand rose 0.4% in September and is up 2.6% since September of last year. The core — which removes the volatile prices of food, energy, and trade services — increased 0.2% and is up 2.1% on the year. BLS Report
Initial jobless claims decreased 15,000 to 243,000 last week. The four-week moving average fell 9,500 to 257,500. DOL Report
U.S. News
A Wall Street Journal survey of economists shows that former Fed governor Kevin Warsh is the most likely candidate to replace Janet Yellen. Warsh, a former bank executive, would be expected to continue the administration’s path of deregulation and loosened government oversight. WSJ
According to the Wall Street Journal, record-high job openings are not enticing employees to quit their current job for better work. The quits rate, which economists see as a measure of confidence in the labor market, is little changed from two years ago, signaling that workers may not yet feel that they can find better work if they voluntarily depart their current job. WSJ