Good News, Automatic Budget Cuts | featured news

U.S. economic growth accelerated from January through March, buoyed by the strongest consumer spending in more than two years. The strength offset further declines in government spending that are expected to drag on growth throughout the year.

U.S. employers ramped up hiring in February, adding 236,000 jobs and pushing the unemployment rate down to 7.7 percent from 7.9 percent in January. Stronger hiring shows businesses are confident about the economy, despite higher taxes and government spending cuts.

A private survey shows U.S. businesses added a solid number of jobs in February, indicating higher taxes and looming government spending cuts have yet to slow hiring.