Payrolls rebounded in April following an even bigger setback a month earlier than previously estimated, a sign companies are confident the U.S. economy will reboot after stagnating early this year.
Unfilled positions at U.S. companies climbed in December to an almost 14-year high and hiring accelerated, underscoring a thriving labor market that points to a pickup in wage growth.
The U.S. labor market leaped forward in January, capping the greatest three-month jobs gain in 17 years and delivering the biggest wage increase since 2008.
An improving job market is the driving force behind a rebound in American consumer confidence that will probably help propel faster economic growth in 2015.
The economy in the U.S. expanded more than previously forecast in the third quarter, reflecting bigger gains in consumer spending and business investment and capping the strongest six months of growth in a decade.
Consumer spending in the U.S. unexpectedly dropped in September as incomes rose at the slowest pace of the year, indicating the economy will have difficulty sustaining a pickup in growth into the end of the year.
Federal Reserve policy makers are missing a key element as they assess the health of the labor market: data that includes whether those who are employed are overqualified for their job or would like to work more hours.
The U.S. economy expanded in the second quarter at the fastest rate since the last three months of 2011 as companies stepped up investment and households boosted spending.
American consumer confidence rose to the highest level in more than a year in September, as households views on the outlook for the economy brightened.
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