Business news with words department+labor+prices. 43 news.

WALL Street skidded yesterday after the assassination of Pakistani opposition leader Benazir Bhutto and after the Commerce Department's durable goods orders exacerbated concerns about the US economy. The major indexes each lost well over 1 percent and the Dow Jones industrial average fell 192 points. Bhutto's assassination raised the possibility of increasing political unrest abroad, always an unsettling prospect for investors who have already been contending with domestic economic concerns for months. Oil prices rose following the news, and that unwelcome inflationary trend only added to Wall Street's uneasiness. Meanwhile, the government said orders for durable goods, big-ticket items from commercial jetliners to home appliances, rose by just 0.1 percent last month. Economists had been looking for a rise of 2.2 percent. Still, November saw the first rise in durable goods orders in the last four months. The Labor Department said the number of workers seeking unemployment

OVERALL consumer prices in Hong Kong rose 3.4 percent year on year in November, slightly higher than October's 3.2 percent, the Census and Statistics Department said yesterday. The larger increase was mainly attributed to higher costs for town gas, private housing rents, outdoor dining as well as package tours, a spokesman for the department said. The spokesman said forecast for inflation in 2007 remained unchanged at two percent, adding that the slightly higher increase in November had been taken into account in the outlook, which was announced in mid-November. Looking ahead, sustained economic expansion, high food and oil prices, the weak US dollar and the appreciation of the yuan would continue to exert pressures, he added. "Lately, the pick-up in private housing rents also deserved attention. Yet the sustained increase in labor productivity should help mitigate the pressures to some extent," he added. For the three-month period ended November, the average

THE difference in yield between Japanese and US 10-year bonds climbed last week to the widest in a month on signs inflation is a bigger threat in the United States than in Japan. The extra yield investors demand to hold Treasuries instead of Japanese notes climbed as high as 2.696 percentage points on Friday, after a Labor Department report showed the biggest increase in US producer prices in 34 years. Japan's bond yields rose less than US debt after confidence among the Asian nations' largest manufacturers slumped more than forecast, cementing speculation the Bank of Japan will delay raising interest rates. "JGBs are a better buy than Treasuries at the moment," Xinyi Lu, chief strategist at the international treasury division at Mizuho Corporate Bank Ltd in Tokyo, told Bloomberg News. "Nobody believes very firmly that there will be inflation here again." The yield on the 1.5-percent bond due December 2017 fell two basis points last week to 1.545 percent at

STOCKS sold off yesterday after a jump in consumer inflation raised concerns about how much freedom the Federal Reserve has to continue cutting interest rates. The Dow Jones industrial average gave up more than 178 points. The Labor Department said the consumer price index rose 0.8 percent in November amid a spike in gasoline prices. The report also found large increases in the cost of clothing, airline tickets and prescription drugs. The report raises questions about the Fed's options for priming the economy. The Fed this week lowered interest rates and announced a plan to align with other key central banks and offer loans to pressed lenders around the world. But while it wants to stimulate the U.S. economy and make lending easier among banks wary of faltering debt, the Fed also has to keep a watchful eye on inflation. Robert Dye, senior economist at PNC Financial Services Group, said the economic readings this week painted a mixed picture for investors, spurring some of the

Consumer prices soared at the fastest pace in two years in November on red-hot energy costs, the Labor Department said Friday. That's the latest...

NEW YORK (MarketWatch) -- The dollar strengthened against other major currencies early Friday, getting a boost after the Labor Department reported hotter-than-expected consumer price inflation for November. The dollar rose 0.7% against the yen at 113.07 yen. The euro gave up 1% at $1.4491. The dollar index, which tracks the performance of the greenback against a basket of other major currencies, rose 0.8% at 77.145. The consumer price index increased 0.8%, driven by a 5.7% gain in energy prices, the biggest gain in consumer prices in more than two years. Core inflation, which excludes food and energy prices, rose 0.3%, the biggest gain since January. The numbers were worse than expected. Economists were forecasting the CPI to rise 0.7% and the core rate to rise 0.2%, according to a survey conducted by MarketWatch.

WASHINGTON (MarketWatch) - The underlying rate of U.S. inflation accelerated in November, the Labor Department said Friday. The consumer price index increased 0.8%, driven by a 5.7% gain in energy prices, the fastest increase in energy prices since March. This is the biggest gain in consumer prices in more than two years. Food prices rose 0.3%, and apparel, airline and drug prices also spiked. The core CPI, which excludes food and energy costs, was up 0.3% in November, the biggest gain since January. Economists were expecting the CPI to rise 0.7% in November after a 0.3% gain in October. The core rate was expected to rise 0.2% after rising 0.2% in the previous month.

STOCKS finished mixed in another volatile session yesterday after a spike in wholesale prices touched off inflation concerns and partially overshadowed a strong increase in retail sales last month. Despite the uneven economic news, a strong forecast by Honeywell International Inc propped up the Dow Jones industrial average. Wall Street, which has this week paid close attention to steps by the Federal Reserve to stoke greater movement in moribund credit markets, again looked to fresh economic data for signals about the health of the economy. In one unwelcome development, prices at the wholesale level jumped 3.2 percent in November -- their biggest increase in 34 years -- after a steep rise in wholesale gasoline prices. The news wasn't all bad, however. The Commerce Department said retail sales rose in November by the largest amount in six months, and a Labor Department report showed a drop in new claims filed by those seeking jobless benefits. The modest movement on Wall

Reuters - Producer prices surged 3.2 percent in November, the biggest rise in 34 years, on a record rise in gasoline prices, the Labor Department said on Thursday.

WASHINGTON (Reuters) - Producer prices surged 3.2 percent in November, the biggest rise in 34 years, on a record rise in gasoline prices, the Labor Department said on Thursday.

WASHINGTON (MarketWatch) -- Wholesale prices rose 3.2% in November - the largest change since 3.5% in August 1973 -- as energy price growth hit a new record, the Labor Department reported Thursday. Wholesale energy prices rose 14.1% in November, beating the prior record growth of 13.4% in January 1990. Growth in gasoline prices of 34.8% also hit a new record - beating the prior record of 28.8% in April 1999. Food prices had 0.0% growth, compared with a gain of 1.0% in the prior month. Excluding volatile food and energy, the core producer prices grew 0.4%. Economists had expected November's PPI to grow 1.8% and the core to grow 0.2%.

The price of imports into the US jumped by the most in more than a quarter of a century in the last year as energy costs soared, figures from the Labor Department showed

WASHINGTON - U.S. inflation last month continued to accelerate at a pace that may limit the Federal Reserve's room to cut interest rates in 2008. Consumer prices rose 0.3 percent in October, the Labor Department said Thursday, matching economists' forecasts. Prices were 3.5 percent higher than a year earlier, the biggest 12-month increase since August 2006. "There are no alarm bells going off today, but neither does it provide any wiggle room to cut rates," said Julia Coronado, a senior economist at Barclays Capital Inc. in New York. Policymakers "have to take the inflation threat seriously.

CONSUMER prices in the US rose last month at the same pace as September, led by increases in fuel costs that threaten to boost inflation and slow growth. The cost of living increased 0.3 percent in October, as forecast, the Labor Department said yesterday in Washington. So-called core producer prices, which exclude fuel and food costs, rose 0.2 percent for a fifth month. Gasoline and heating-oil prices started rising in late October and have continued higher this month, suggesting fuel costs will remain a concern. Meanwhile, annual inflation in the euro zone rose to 2.6 percent in October, due to higher fuel and food prices across the 13 countries that use the currency, the EU statistics agency said. The increase puts more pressure on the European Central Bank to consider an interest rate rise to curb the hike in costs. The price index rose from 2.1 percent in September, and marks a two-year high despite the strong euro currency which continues to offer European industry and

WASHINGTON Consumer inflation posted another elevated reading in October as energy prices shot up by the fastest pace in five months. The Labor Department reported Thursday that its Consumer Price Index rose by 0.3 percent last month, the second straight month with inflation at that level. The acceleration was occurring because of another jump in energy prices and continued increases in food costs. Meanwhile, the government said that the number of laid off workers filing claims for unemployment benefits rose by 20,000 last week to 339,000, the highest level in four weeks.

WASHINGTON (MarketWatch) - The consumer price index increased 0.3% in October, driven by a 1.4% gain in energy prices, the Labor Department said Thursday. This was the fastest increase in energy prices since May. Food prices rose 0.3%. The core CPI, which excludes food and energy costs, was up 0.2% in October. Economists were expecting the CPI to rise 0.3% in October after a 0.3% gain in September. The core rate was expected to rise 0.2% in October after rising 0.2% in the previous month.

WASHINGTON (MarketWatch) -- Wholesale prices rose 0.1% in October, as food prices rose and energy prices fell, the Labor Department reported Wednesday. Energy prices decreased 0.8% in October, compared with a gain of 4.1% in the prior month. Food prices rose 1.0%, compared with a 1.5% gain in the prior month. Excluding volatile food and energy, the core producer prices were flat with the prior month's level. Economists had expected both the PPI and core to rise 0.1%.

WASHINGTON (MarketWatch) -- Prices that U.S. residents paid for imported goods rose 1.8% in October, the biggest increase since May 2006, the Labor Department reported Friday. Imported petroleum prices rose 6.9%, but prices of other goods rose a more moderate 0.5%. Excluding all fuels, import prices rose 0.3%. Meanwhile, export prices jumped 0.9% in October, including a 3.9% rise in agricultural prices. Excluding agriculture, export prices rose 0.5% in October. In the past year, import prices are up 9.6%, including a 41.4% increase in petroleum prices. Excluding petroleum, import prices are up 3.2%. Fed officials are watching import prices closely to see if the weaker dollar is fueling U.S. inflation.

WALL Street twisted its way through another difficult session yesterday, discouraged about the economy's prospects but still managing a higher finish after some concerns about the beleaguered financial sector lifted late in the session. Word shortly before the close that Citigroup Inc.'s board plans to meet in an emergency session over the weekend helped that stock and other financials pare sharp losses. yesterday's session ended a week made turbulent not only by bad news from the financial sector but also by spiking commodity prices and comments from the Federal Reserve that it might be less generous with interest rate cuts in the coming months. A highly anticipated Labor Department report showing employers added 166,000 jobs in October _ the most in five months and nearly double what analysts had been expecting _ didn't give stocks much of a lift a day after a sharp pullback as investors' unease about the financial sector seemed to blanket trading. Wall Street was clearly

THE prospect of a stronger US economy and word of possible new UN sanctions against Iran sent crude oil futures back above US$96 a barrel yesterday. The Labor Department reported that employers boosted payrolls by 166,000 jobs in October, the biggest increase in months and double what economists had forecast. Meanwhile, October's unemployment rate held steady at 4.7 percent. Separately, the Commerce Department said factory orders rose 0.2 percent in September, better than the 0.4 percent decline analysts were expecting. "It suggests that concerns about the economy ... are overblown a little bit," said Michael Lynch, president of Strategic Energy and Economic Research Inc., in Winchester, Massachusetts. Oil futures added to their gains late yesterday when the British Foreign Office said the U.N. Security Council has agreed to draft a new sanctions resolution that could be passed in November if Iranian cooperation with the International Atomic Energy Agency does not