- Personal income increased 0.3% in September, and personal consumption expenditures increased 0.5%. Real disposable personal income held steady, while real personal consumption expenditures increased 0.3%.
- The price index for personal consumption expenditures increased 0.2% in September, while the core index increased 0.1%. The price index (headline index) was up 1.2% from September 2015, while the core index was up 1.7%.
- Total non-farm payroll employment rose 161 thousand in October, following an increase of 191 thousand in the previous month, according to the U.S. Bureau of Labor Statistics.
- The unemployment rate edged down to 4.9% in October, from 5.0% in September.
- The average workweek of all employees on private nonfarm payrolls held steady at 34.4 hours. Average hourly earnings increased by 10 cents to $25.92. Over the past 12 months, average hourly earnings were up 2.8%.
- Third quarter productivity increased 3.1% (seasonally adjusted annual rate) in the non-farm business sector, following a 0.2% decrease in the previous quarter, according to the U.S. Bureau of Labor Statistics. Unit labor costs increased 0.3% in the third quarter, following a 3.9% increase in the previous quarter.
- The advance figure for initial claims for unemployment insurance was 265 thousand in the week ending October 29, an increase of 7 thousand from the previous week’s unrevised level. The 4-week moving average was 257.75 thousand, an increase of 4.75 thousand from the previous week’s unrevised average.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed mortgage rates rising. 30-year fixed-rate mortgage averaged 3.54% for the week ending November 3rd, up from last week when it averaged 3.47%. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.87%.
- Mortgage applications decreased 1.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 4th.
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