US Weekly Jobless Claims Modestly Up; Producer Prices Slightly Above Expectations

USA ECONOMY - WASHINGTON. The number of Americans filing new applications for unemployment benefits increased marginally last week, suggesting that layoffs remained low even as the labor market slows.

Other data on Thursday showed producer prices rising slightly more than expected in August amid a rebound in the cost of services, including guest house rentals. The combination of a fairly stable labor market and still-high inflation further diminished the chances of the Federal Reserve cutting interest rates by 50 basis points next Wednesday, when the U.S. central bank is expected to start its long-awaited easing cycle.

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