US jobless claims lower than expected while productivity disappoints

This week saw US initial jobless claims at 324,000, a nice beat as forecasts predicted a rise to 345,00 from 339,000 in the previous week.

Nonfarm productivity in the first quarter rose to 0.7 per cent, from -1.7 per cent previous. Analysts had been hoping for a rise to 1.5 per cent.