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May 7, 2026
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rebounded in the week ending on May 2. Initial jobless claims rose to 200,000, an increase of 10,000 from the previous week's level of 190,000.
Jobless claims dropped to their lowest level since hitting a matching figure in the week ended September 24, 2022. Meanwhile, the report said the less volatile four-week moving average slipped to 203,250, a decrease of 4,500 from the previous week's average of 207,750.
The Labor Department also said continuing claims, reading on the number of people receiving ongoing unemployment assistance, fell by 10,000 to 1.766 million in the week ending on April 25.The four-week moving average of continuing claims also dipped to 1,789,750, a decrease of 5,250 from the previous week's average of 1,795,000.05/07/2026 - 09:39:00 (RTTNews)
Labor productivity in the U.S. increased in the first quarter of 2026, according to preliminary data released by the Labor Department on Thursday. The report said labor productivity climbed by 0.8% in the first quarter after jumping by 1.6% in the fourth quarter of 2025. The weaker growth in productivity, a measure of output per hour, came as a 1.5% jump in output was partly offset by a 0.7% increase in hours worked.
Meanwhile, the Labor Department said unit labor costs surged by 2.3% in the first quarter after soaring by 4.6% in the fourth quarter. The sharp increase in unit labor costs came as hourly compensation shot up by 3.1%, more than offsetting the growth in productivity. Real hourly compensation, which takes changes in consumer prices into account, fell by 0.5% during the quarter.05/07/2026 - 09:58:00 (RTTNews)
Euro traded at 1.1771 against USD at 9:00 AM PST
Eurozone retail sales dropped marginally in March as reduced food and auto fuel sales were partially offset by the increased non-food product sales. Retail sales dropped 0.1% monthly in March, marking the third consecutive fall. However, this was slower than the 0.3% decrease posted in February.
Sales of food, drinks, and tobacco decreased 0.3%, and that of automotive fuel in specialized stores slid 1.6%. Meanwhile, non-food product sales expanded 0.6%. Year-on-year, growth in retail sales slowed slightly to 1.2% from 1.3% in February.
In the E.U., retail sales grew at a slower pace of 0.3% from the prior month. On a yearly basis, sales growth accelerated to 1.9% from 1.3%. Among the E.U., the highest annual increases in the total retail trade volume were recorded in Bulgaria, Hungary, and Malta. Meanwhile, decreases were seen in Romania and Germany. 05/07/2026 - 06:11:00 (RTTNews)
German factory orders grew at a faster pace in March as manufacturers rushed to secure raw materials ahead of potential future price increases and supply shortages. Factory orders increased 5.0% in March compared to February's growth of 1.4%. The monthly increase significantly outpaced the 1.0% and marked the fastest growth in three months. Excluding large orders, new orders were 5.1% higher than in the previous month.
Foreign orders advanced 5.6% with euro area demand climbing 10.1% and non-euro area demand rising 2.7%. Domestic orders increased 4.0%. By products, orders for capital goods rose 2.1%, and those for intermediate goods gained 9.2%. For consumer goods, orders went up 7.3%. On a yearly basis, new order growth accelerated to 6.3% from 3.5% in February. Manufacturing turnover logged a monthly growth of 0.7% in March, in contrast to the 1.3% fall in February. 05/07/2026 - 03:10:00 (RTTNews)
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