Weekly Unemployment Claims Fall for Sixth Straight Week; CPI Jumps to 5 Percent
First-time jobless claims continue to decline in the U.S. with 376,000 last week. The number is slightly higher than economists had predicted, but it is still a sign that the economy's slow recovery is trekking onwards. Continuing claims also fell last week to 3.49 million. Meanwhile, inflation is surging to levels not seen since 2008 as the 12-month consumer price index grew to 5 percent.