The number of Americans seeking unemployment benefits fell last week to 473,000, a new pandemic low and the latest evidence that fewer employers are cutting jobs as consumers ramp up spending and more businesses reopen.
A worrisome bout of inflation struck the U.S. economy in April, with consumer prices for goods and services surging 0.8% — the largest monthly jump in in more than a decade — and the year-over-year increase reaching its fastest rate since 2008.