Initial jobless claims fell 31,000 to 429,000 last week, the lowest level since August 2008.

Continuing claims rose to 4.68 million from 4.43 million. The four-week moving average fell 11,750 to 455,250. The June producer price index fell 0.5% from a 0.3% drop in May. The June core PPI, ex-food and energy, rose 0.1%. Complete story to follow.

This article was written by a staff member of TheStreet.