The number of U.S. workers filing for unemployment benefits declined by 40,000 last week, while prices of goods imported into the United States showed the biggest increase in five months.

The Dow Jones Business News said the two reports suggest the labor market may be improving, and a surge in petroleum prices indicates external inflationary pressures on the economy are growing.
In addition, inventories at the wholesale level rose for a third straight month in August as companies prepared for a pickup in business.
Initial jobless claims declined by 40,000 to 384,000 in the week that ended Oct. 5, marking the biggest drop since the week of April 6, the Labor Department said Thursday. The four-week average fell to a four-week low of 412,250. Analysts had expected a drop of just 2,000 claims, according to a consensus forecast of economists surveyed by Dow Jones Newswires and CNBC.
Overall import prices rose 0.7% last month, marking the biggest gain since April, the Labor Department said Thursday. The increase reflected the biggest increase in petroleum prices in five months -- a gain of 6%. But non-petroleum prices also climbed, rising 0.2%.
The numbers were higher than Wall Street's expectations for a 0.3% gain in overall import prices. However, investors widely expect inflation to abate this year as the economic recovery falters, giving the Federal Reserve plenty of room to cut interest rates again if necessary.
Wholesale inventories rose 0.2% in August to a seasonally adjusted $284.53 billion, the Commerce Department said, after a 0.6% gain in July.
The August figures came in slightly above Wall Street expectations. Economists had expected wholesale inventories to rise by 0.1%.
Stocks of durable goods -- big-ticket items meant to last three or more years -- rose 0.2% in August after rising by 0.6% in July. The rise in durable goods inventories was led by a 2.4% gain in electrical-related inventories. Automobile inventories fell by 2.3%. Sales of durable goods were up by 0.3% in August.