rose moderately last week, while layoffs declined in September, pointing to still-tight labour market conditions at the end of the third quarter.
Claims could push higher this month as the United Auto Workers strike, now in its third week, constrains supply chains and forces manufacturers to temporarily lay off more non-striking workers. Ford Motor, General Motors and Chrysler-parent Stellantis have furloughed and laid off hundreds of workers because of strike impacts.
A separate report from global outplacement firm Challenger, Gray & Christmas on Thursday showed US companies announced 47,457 job cuts in September, down 37 per cent from August. Announced layoffs were, however, 58 per cent higher compared to the same period last year. Employers announced 146,305 job cuts in the third quarter, down 22 per cent from the April-June quarter.
According to a Reuters survey of economists, non-farm payrolls likely increased by 170,000 jobs last month after rising 187,000 in August. The unemployment rate is forecast dipping to 3.7 per cent from 3.8 per cent in August. Exports of goods and services increased 1.6 per cent to $US256.0 billion. Goods exports shot up 1.8 per cent to $US171.5 billion, with shipments of capital goods hitting a record high. But exports of foods, feeds and beverages were the lowest since August 2020.Exports of services rose $US1.0 billion to $US84.5 billion, the highest on record, mostly reflecting increases in travel and financial services.
Services imports increased $US0.1 billion to $US58.4 billion, supported by travel and other business services. Imports of transportation services fell. The services surplus increased $US1.0 billion to $US26.2 billion, the highest since March 2018.