Unemployment, Government Report | featured news

Fewer Americans applied for unemployment benefits last week, and a private survey showed businesses stepped up hiring in August. The data sketched a brighter outlook for the job market one day before the government reports on August employment.

New claims for unemployment benefits dropped to a fresh four-year low last week, according to a government report on Thursday that offered evidence the jobs market recovery was gaining traction.

The economy grew at an annual rate of 2.5% in the three months ending Sept. 30, the government reported, easing fears that the nation would fall into a second recession but still too slow a pace to cut significantly into the high unemployment rate.

New claims for unemployment benefits fell last week and a gauge of labor market trends hit a six-month low, a government report showed on Thursday, pointing to an improvement in the jobs market.

Job creation came to a halt in August, according to new government data that show an economic recovery that appears to be sputtering out. The Labor Department on Friday reported zero net job creation in August, far worse than the 68,000 net jobs analysts had expected to be added. The unemployment rate was unchanged at 9.1 percent. The July job growth number was revised downward, as well, to only 85,000 jobs added that month — not the 117,000 estimated.

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.

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