U.S. labor market firming; inflation remains benign

August 11, 2016 1:05 PM

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U.S. labor market firming; inflation remains benign

WASHINGTON The number of Americans filing for unemployment benefits fell last week, pointing to sustained labor market strength in early August that could help spur faster economic growth.

Other data on Thursday showed an unexpected rise in import prices in July as a drop in petroleum prices was offset by gains in the cost of other goods. However, renewed dollar strength will likely dampen underlying inflation in the coming months.

Also read: U.S. jobless claims drop from five-month high

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