A steep drop in gasoline costs drove down a measure of U.S. wholesale prices in May by 1%, the most since July 2009. But outside the food and energy categories, prices increased moderately.
The number of people seeking unemployment benefits was unchanged last week at 370,000, a number low enough to suggest steady gains in the job market. Applications for benefits are near the lowest levels in four years.
U.S. consumer prices were flat last month as cheaper gas offset modest increases for food, clothing and housing. The data indicate that inflation remains in check.
The number of people seeking unemployment aid neared a four-year low last week, a positive sign that strong hiring could continue in the coming months. The Labor Department said Thursday that weekly applications for unemployment benefits fell 15,000 to a seasonally adjusted 358,000. That's the second-lowest level since April 2008.
Employers went on a hiring spree in January and drove down the unemployment rate for a fifth straight month to 8.3 percent, its lowest point in nearly three years. The result pointed to a resurgent job market, and it sent stock futures surging. The Dow Jones industrial average futures, which were flat before the report, jumped 95 points.