Private Sector, Hiring | featured news

Private-sector employers shrugged off a looming budget crisis and stepped up hiring in December, offering further evidence of underlying strength in the economy as 2012 ended.

U.S. companies hired the fewest people in seven months in April, a worrisome sign for a labor market that has struggled to gain traction and adding to concerns that the economy has lost some momentum.

Signs of weakness in the U.S. economic recovery mounted as reports on Wednesday showed a sharp slowdown in the vast services sector and less hiring by private companies in April.