Unemployment, Economist | 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.

Economists think some of the missing workers have retired, have entered college or are getting by on government disability checks.

Economists had expected the snowstorms to have a bigger impact, but job losses were surprisingly mild in February as employers cut 36,000 jobs.

Economists expect the joblessness that has weighed down the nation's economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey.