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Business news in brief

In the Region

Rittenhouse unit set for auction

A unit in the Rittenhouse Plaza residential building is scheduled for a foreclosure auction Aug. 4, according to the website of the Philadelphia Sheriff's Office. Bidding on the unit in the 21-story, parkside building will begin at $1.5 million, according to the site. The 119-unit building, constructed in 1926, is managed as a cooperative, meaning residents are shareholders in the corporation that owns the building, rather than owners of individual units. - Jacob Adelman

Elsewhere

Pa. posts stellar jobs gain

Pennsylvania's unemployment rate broke a string of three monthly increases in April as employers recorded the biggest one-month jobs gain in nearly two decades. The state Department of Labor and Industry said Friday an April survey of employers showed payrolls grew by 27,000 jobs, the biggest one-month jump since February 1996. The biggest increase was in construction, which added 10,000 jobs. The payrolls figure is preliminary and could be revised next month. Meanwhile, April's unemployment rate remained unchanged from March at 5.3 percent. Pennsylvania hit a post-recession low of 5 percent in December. The national rate for April was 5.4 percent. A separate survey of households showed the state's labor force, the number of people working or looking for work, expanded by 19,000, moving closer to 6.4 million people.

Generic drug stays on market

A federal appeals court has rejected a drug manufacturer's appeal and affirmed a judge's order that Actavis PLC keep distributing its widely used Alzheimer's medication until after its patent expires this summer. New York Attorney General Eric Schneiderman had sought the order and called the Court of Appeals ruling a victory for consumers. His office says the drug Namenda should remain on shelves 30 days after the patent expires July 11. He alleged antitrust and state law violations by Actavis in an effort to push patients to its new patented drug and avoid losses from cheaper generics. Actavis, based in Dublin, Ireland, says its new drug Namenda XR is better and demand is growing. It's taken once daily, not twice daily. - Associated Press

Retailers boost starting pay

Ross Stores Inc. is joining Wal-Mart Stores Inc., Target Corp., and TJX Cos. in the $9-an-hour club. Ross, a discount clothing chain based in Dublin, Calif., said Thursday it was boosting its starting hourly pay to that level, a response to mounting wage pressure. The move helps solidify $9 as a standard for starting pay in the retail industry. - Bloomberg News