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Jobless claims fall to lowest since 2007

Jobless claims dropped by 24,000 to 297,000 in the week ended May 10.

By Lorraine Woellert, Victoria Stilwell | Updated on May 15, 2014
Jeff Caldwell, 29, right, a chassis assembly line supervisor, watches an assembly at the Chrysler Jefferson North Assembly plant in Detroit. (AP Photo/Paul Sancya)

May 15 (Bloomberg) — The fewest Americans in seven years filed applications for unemployment benefits and consumer prices rose by the most in 10 months, adding to signs the economy gaining momentum.

Jobless claims dropped by 24,000 to 297,000 in the week ended May 10, less than any economist projected in a Bloomberg survey and the least since May 2007, figures from the Labor Department showed today in Washington. The consumer price index increased 0.3 percent in April, the biggest advance since June, after rising 0.2 percent the prior month.

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