US DATA: Initial jobless claims -9k to 397k in Oct…

US DATA: Initial jobless claims -9k to 397k in Oct 29 wk, below the
401k level expected. Claims in the prev wk rev up to 406k vs 402k
originally. Labor analyst said there was nothing unusual, two states
estimated, Connecticut and Oklahoma. NSA claims -10,433 to 366,923 vs
seas factors expect of -2k. The 4-wk moving avg -2k to 404,500 in Oct 29
wk. Cont claims -15k to 3.683m in the Oct 22 wk, low since Apr 16 wk.
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US DATA: 3Q prelim productivity +3.1% SAAR vs 2Q -0.1%, while unit labor
costs -2.4% vs 2Q +2.8%. Both productivity and ULC weaker than expected.
Output +3.8%, hours worked +0.6%, compensation +0.6%. Y/Y productivity
+1.1% in 3Q vs +0.9% in 2Q, ULC +1.2% vs +1.8%.