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Another jump in prices tightens the squeeze on consumers

WASHINGTON — American consumers absorbed another surge in prices in May — a 0.6% increase over April and 5% over the past year, the biggest 12-month inflation spike since 2008. The May rise in consumer prices that the Labor Department reported Thursday reflected a range of goods and services now in growing demand as people increasingly shop, travel, dine out and attend entertainment events in a rapidly reopening economy. The increased consumer appetite is bumping up against a shortage of components, from lumber and steel to chemicals and semiconductors, that supply such key ...

US unemployment claims fall to 376,000, sixth straight drop

WASHINGTON — The number of Americans applying for unemployment benefits fell for the sixth straight week as the U.S. economy, held back for months by the coronavirus pandemic, reopens rapidly. Jobless claims fell by 9,000 to 376,000 from 385,000 the week before, the Labor Department reported Thursday. The number of people signing up for benefits exceeded 900,000 in early January and has fallen more or less steadily ever since. Still, claims are high by historic standards. Before the pandemic brought economic activity to a near-standstill in March 2020, weekly applications were ...

Trucker, 79, has covered 4 million miles accident-free

ALLENTOWN (AP) — The last time we saw trucker Don Cook, his career odometer had just rolled over to 3 million miles. He hadn’t had an accident in all that time, and his company, YRC Freight, gave him a truck cab with his name on it and a leather jacket with a patch reading “Three Million ...

When it’s OK to let your good credit score drop

If you’ve worked hard to achieve and maintain a good credit score, it can be upsetting to see it drop. But “life happens, and sometimes how you react is going to blow back and affect your credit score,” says credit expert John Ulzheimer. People lose jobs, cars break down and pipes leak. Credit may be your safety net. Painful as it may be, there are times when taking actions that hurt your score are prudent for your overall finances. When you have emergency expenses If you have a big, unexpected expense that exceeds your emergency savings, using your credit cards to cover ...

Summer travel forecast calls for longer waits, fewer choices

After a year of coronavirus lockdowns, the start of summer beckons with vacation plans made possible by relaxed COVID-19 restrictions. But a severe worker shortage brings a warning for travelers: Expect delays and pack a little patience. Lifeguards and hotel housekeepers are in short supply. ...

Busier summer seen at Jersey Shore in year 2 of COVID-19

BELMAR, N.J. — The second summer of COVID-19 at the Jersey Shore is likely to look much different than last year’s: Many virus restrictions have been lifted, nightclubs and dance floors will be packed again, and restaurants and bars can serve full crowds indoors. Shore towns report brisk beach badge sales as they drop capacity limits they put in place last summer to keep people further apart on the sand. Ocean City was closing in on $1 million worth of beach badge sales by the end of April, the earliest they had ever reached that mark. “It’s been exceptionally busy,” said ...