US Labor Market Tightening; Inflation Pressures Muted

US Labor Market Tightening; Inflation Pressures Muted
A container ship is shown at port in Long Beach, California, on July 16, 2018. Mike Blake/Reuters
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WASHINGTON—The number of Americans filing applications for jobless benefits tumbled to near a 49-year low last week, which could ease concerns about a slowdown in the labor market and economy.

Other data on Dec. 13 showed import prices dropping by the most in more than three years in November as the cost of petroleum products tumbled and a strong dollar weighed on prices of other goods, pointing to subdued imported inflation.