Jobs Report -- September 29, 2016

Claims rose to 254,000. And here. Well below the 260,000 forecast. Four-week moving average, down from 258,500 previously, at 256,000.

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Individual Health Insurance Premiums Soar -- Duluth News Tribune

Link here.  Data points:

• Minnesota: private health care insurance premiums to rise 67% next year
• follows BC/BS announcement earlier this summer it was eliminating all but one of its individual health policies
• insurance regulators: "premium increases are unacceptable but nothing they can do"

 

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Consumer Spending Drops; "Clouds" Federal Reserve Rate Hike Decision --  Reuters

Link here.  Data points:

• US consumer spending fell in August for the first time in seven months
• inflation showed "cautious signs of accelerating"
• US consumer spending accounts for more than two-thirds of US economic activity
• spending fell 0.1% (after accounting for inflation); analysts had expected a 0.1% gain

Not to worry: once higher gasoline prices kick in, consumer spending will increase.