Economy, 2011 | featured news

Private-sector payroll growth slowed sharply in May, coming in far below expectations and falling to the lowest level in eight months, a report showed Wednesday.

Consumer spending rose less than expected in April as high gasoline prices continued to squeeze household budgets, according to government data on Friday which also showed annual inflation accelerating at its fastest pace in a year.

The number of Americans applying for unemployment benefits surged last week to the highest level in eight months, a troubling sign a day ahead of the government's report on April employment.

The pace of expansion in U.S. manufacturing slowed in April for a second straight month but was brisker than expected, data showed on Monday, a sign the sector was holding up despite slower national growth.

The number of job openings rose at their fastest pace in almost seven years in February, according to a new report from the Labor Department.

Consumers spent more in March on furniture, electronics and at restaurants, but also paid more for gas. Retail sales increased 0.4 percent last month, the Commerce Department said Wednesday. It was the ninth consecutive monthly gain.

U.S. consumer confidence fell in March after hitting a three-year high in the prior month as expectations about jobs and income growth worsened.

Wholesale prices surged last month at their fastest pace in just over 1-1/2 years due to higher energy costs and the steepest rise in food prices in 36 years.

Consumer confidence rose in February to its highest point in three years as Americans feel more optimistic about their income prospects and the direction the economy is headed.

Employers will hire more workers this year, and the economy will grow faster than envisioned three months ago, according to an Associated Press survey that found growing optimism among leading economists....