Unemployment claims dropped for the third time in four weeks and wholesale inflation remained tame, adding to evidence that the economy is gradually improving. New claims for jobless benefits fell by 3,000 to a seasonally adjusted 450,000, and the lowest level in two months, the Labor Department said Thursday. Claims have fallen by 11 percent [...]
In other news Thursday, the Labor Department announced jobless claims rose to 500,000 last week. On Wall Street, there were disappointing numbers as well.
New applications for unemployment benefits fell sharply last week while manufacturing activity cooled in June and wholesale prices dipped.
For the first time in 30 years, the state will have to borrow from the federal government to keep paying unemployment benefits.
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