The number of Americans seeking unemployment benefits fell 9,000 to a seasonally adjusted 346,000 last week, evidence that the job market is still improving modestly, despite signs of slower growth.

Applications for U.S. unemployment benefits rose by 18,000 last week to a seasonally adjusted 354,000. Despite the gain, the level remains consistent with moderate job growth.

U.S. consumer prices rose slightly last month, as higher energy costs partly offset cheaper food. The small increase is further evidence that consumers are benefiting from mild inflation.

The U.S. economy is on sounder footing than it was a year ago but is still being restrained by government spending cuts and tax increases, the International Monetary Fund said Friday.

The number of Americans seeking unemployment benefits dropped 12,000 last week to a seasonally adjusted 334,000, a decline that suggests steady job gains will endure.

America as a whole has regained all the household wealth it lost to the Great Recession and then some, thanks to higher stock and home prices.

The U.S. economy added 175,000 jobs in May, a gain that shows employers are hiring at a still-modest but steady pace despite government spending cuts and higher taxes.

A debate is raging among investors and analysts: Has the Federal Reserve inflated a stock market bubble by driving interest rates to record lows?