Jobless Claims Rise; Import Prices Fall

The number of workers lining up for initial state unemployment benefits rose last week by 42,000 to 445,000, the highest level in nine years, the Labor Department said. Much of the increase was due to plant shutdowns as automobile manufacturers retool for next year’s models. The four-week moving average of claims, a less volatile figure, rose to 410,750 last week from 408,250.

In a separate report, the Labor Department said import prices fell 0.5% in June, after a rise of 0.2% in May, reflecting a falloff in prices for petroleum, food and industrial and consumer goods. Import prices were down 2.6% from June 2000. Excluding petroleum, import prices fell 0.4%, the fifth consecutive monthly decline.