Unemployment Claims, Wholesale Inventories Drop in March

Washington, D.C.–U.S. wholesale inventories fell in March but sales of goods increased, the Commerce Department said Thursday.Wholesale inventories fell 0.1 percent to a seasonally adjusted $420.77 billion. U.S. wholesaler sales grew 1.6 percent to a seasonally adjusted $384.34 billion in March, following a revised 0.5 percent decline in February, The Wall Street Journal said.The number of U.S. workers filing new unemployment claims dropped unexpectedly last week–but remained at high levels due to the weak labor market.After seasonal adjustments, initial jobless claims dropped 18,000 to 365,000 in the week ended May 3, the Labor Department said Thursday. Ongoing claims lasting more than one week remained above three million for a second consecutive week, indicating finding work is taking longer.