News

Issues and events that shape Long Island's economic and legislative landscape.

Wednesday, October 1, 2014

Statement From LIA Chief Economist John Rizzo on Jobless Claims and Producer Prices

"Claims for unemployment benefits fell by more than expected during the week of November 16, to 323,000.  Economists had expected 335,000 jobless claims.  This is further evidence that the labor market continues to recover and that the economy has shrugged off the effects of the Federal Government shutdown.  Producer prices actually declined in October by 0.2 percent, following a 0.1 percent drop in September.  Inflation is clearly not a concern, implying that the Fed has plenty of room to continue is pro stimulus policies."