Economy, Government Report | featured news

The economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up.

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.

Stocks are shaking off a two-week slump after a report on retail sales wasn't as bad as economists had predicted... The government said Tuesday that retail sales edged down 0.2 percent last month, the first decline in nearly a year. That was slightly better than analysts were expecting. Americans bought fewer cars during the month, but the decline reflected temporary supply chain disruptions caused by the earthquake and tsunami disaster in Japan. Excluding weak car sales, retail sales rose 0.3 percent.

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 bad economy has shortened the life of the trust funds that support Social Security and Medicare, the nation's two biggest benefit programs, the government reported Friday.

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

Suicides in the United States appear to increase in hard times and decrease during years of prosperity, according to a new government report ...

New U.S. claims for unemployment benefits fell last week, a government report showed on Thursday, further evidence a material improvement in the labor market was under way.