U.S. jobless claims ease, productivity slows; Russia sees Q2 GDP rebound

Fresh U.S. data on Thursday showed initial jobless claims edging up while productivity growth slowed in the first quarter.

The U.S. Department of Labor said initial claims for unemployment benefits rose to 200,000 in the week ended May 2, up 10,000 from the prior week. Reuters-syndicated coverage said the increase was smaller than economists had expected, pointing to a labor market that remains relatively steady.

Separately, the Bureau of Labor Statistics said nonfarm business productivity rose 0.8% in the first quarter of 2026, while unit labor costs increased 2.3%. Reuters coverage described the productivity reading as a further slowdown.

The combination of still-low layoffs and softer productivity growth gives a mixed read on the U.S. economy: labor demand remains firm, but efficiency gains eased at the start of the year.

Elsewhere, Russia's central bank said it expects GDP to grow 0.9% in the second quarter after a projected 0.5% contraction in the first quarter. Reporting on the bank's statement also said it put first-quarter inflation at 5.9% and forecast the same rate for the second quarter.

The releases came as markets continued to parse signs of resilience in the U.S. labor market and the pace of growth in major economies abroad.