The nation’s unemployment lines keep getting shorter. The Labor Department reports 376-thousand Americans filed first-time claims for jobless benefits last week, nine-thousand fewer than the previous week’s revised total of 385-thousand. It’s the lowest level of claims since March of last year, but it’s a bit higher than analysts were expecting.
In other economic news, inflation made its biggest jump in nearly 13 years last month. Consumer prices in May were five-percent higher than May of last year. That’s the biggest jump since August of 2008, just before the financial crisis drove the U.S. into the worst recession since the Great Depression.