Unemployment, Good News | featured news

The economy grew slightly faster in the spring than previously estimated but remained dangerously weak in the face of high unemployment and higher gas prices. Many economists foresee slightly better growth in the current July-September quarter. The annual growth rate was 1.3 percent in the April-June quarter, up from an estimate of 1 percent made a month ago, the Commerce Department said Thursday. The improvement reflected modestly more consumer spending and a bigger boost from trade.

New claims for unemployment benefits dropped sharply in the latest week, The Labor Department said Thursday, giving the jobs market one of its first positive signals in some time. 

Job growth in the U.S. rebounded higher in July and the unemployment rate edged lower, the government reported Friday, providing a pinch of good news amid turmoil in global markets and intensifying fears of a recession.

Private businesses added a stronger number of jobs in June than expected, according to ADP, while new claims for jobless benefits fell last week.

California's unemployment rate ticked down to 11.9% in April after the state added 8,900 jobs, a relatively small number in a state still suffering from the Great Recession.

The number of people applying for unemployment benefits fell sharply for the second straight week, suggesting the job market is slowly recovering.

U.S. claims for unemployment aid fell sharply last week after a surprisingly big rise the prior week, a government report showed on Thursday.

Lower unemployment, bankruptcies and foreclosures in March reduced the nation's economic stress to its lowest point this year, according to The Associated Press' monthly analysis of conditions around the country.

More people applied for unemployment benefits last week, the first increase in three weeks. Still, the broader trend points to a slowly healing jobs market.

Fewer people applied for unemployment benefits last week, adding to evidence that layoffs are slowing and employers may be stepping up hiring.