Initial jobless claims drop

City A.M. Reporter
PROSPECTS for America’s economic recovery were given a boost yesterday, as the number of new claims for unemployment benefits fell again, while a measure of stocks at wholesalers rose.

Initial claims for state unemployment benefits fell 4,000 to a seasonally adjusted 323,000, the lowest level since January 2008.

Meanwhile the Commerce Department said wholesale inventories rose 0.4 per cent, above the median forecast of 0.3 per cent.