Jobless Claims Near 15-Year Low; Producer Prices Fall

Application for employment and pen
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By Lucia Mutikani

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, indicating the jobs market was on solid footing even as the economy struggles to regain momentum after abruptly slowing in the first quarter.

Other data on Thursday showed that a strong dollar and lower oil prices suppressed producer inflation in April. That together with signs of modest growth early in the second quarter suggest the Federal Reserve will probably not raise interest rates until later in the year.