November 12, 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 November 7th. The Labor Department said initial jobless claims climbed to 200,000, an increase of 9,000 from the previous week's level of 191,000. The rebound comes a week after jobless claims dropped to their lowest level since hitting a multi-decade low of 189,000 in the week ending on July 18th.
Meanwhile, the report said the less volatile four-week moving average came in at 195,250, unchanged from the previous week's average. The Labor Department also said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, fell by 20,000 to 1.697 million in the week ending on October 31st. The four-week moving average of continuing claims also edged down to 1,707,750, a decrease of 1,500 from the previous week's average of 1,709,250. 11/12/2026 - 09:50:00 (RTTNews)
British Pound traded at 1.3225 against USD at 9:00 AM PST
The UK economy expanded at a faster pace in the third quarter as activities related to artificial intelligence boosted services sector growth. Real gross domestic product (GDP) grew 0.7% on a quarterly basis, showing an improvement from 0.5% expansion posted in the second quarter. A similar strong growth was last reported in the first quarter of 2024. The production-side of GDP showed that services activity strengthened further, driven by the information and communication and professional services sectors.
Output in the services sector increased 0.9%, faster than the 0.6% rise seen a quarter ago. Industrial production sector grew 0.1%, offsetting last quarter's 0.1% fall. Meanwhile, the construction sector contracted 0.7%. On the expenditure side, household consumption rose 0.6%, supported by increases in transport and housing. Government spending also grew 0.6%. Within gross capital formation, gross fixed capital formation rose 1.7%. At the same time, business investment gained 0.4%.
On a yearly basis, GDP expanded 1.9% in the third quarter. In September, the economy grew 0.2% after showing no growth in August and growth of 0.4% in July. The visible trade deficit widened to GBP 22.3 billion in September from GBP 19.6 billion in August. The overall trade balance covering goods and services showed a deficit of GBP 5.13 billion compared to a GBP 2.57 billion shortfall in the previous month. 11/12/2026 - 05:43:00 (RTTNews)
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