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Via CNNmoney.com …

The number of out-of-work Americans who signed up for jobless benefits fell for the third week in a row, matching economists’ expectations.

The Department of Labor reported Thursday that initial filings for state jobless benefits decreased by 10,000 to a seasonally adjusted 425,000 in the week ended Aug. 23. That’s the fewest number of filings since the week of July 19.

The four-week seasonally adjusted moving average of new jobless claims fell 6,000 to 440,250 in the past week. Last year at this time, the figure was 324,750. The average is used to smooth out weekly fluctuations.

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Via CNN.com …

The unemployment rate took its biggest jump in more than two decades in May as employers once again cut jobs from U.S. payrolls, according to a government report Friday, showing a job market weaker than expected.

The unemployment rate soared to 5.5% from only 5% in April. Economists surveyed by Briefing.com had only forecast the closely watched rate would rise to 5.1% in the month.

It was the biggest one-month jump in unemployment since February 1986, and the 5.5% rate is the highest level seen since October 2004.

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Via Associated Press …

The number of newly laid off workers seeking unemployment benefits dropped much more than expected last week.

The Labor Department reported Thursday that applications for unemployment benefits fell to 365,000, a decline of 18,000 from the previous week. Economists had been looking for a much smaller decrease of around 5,000.

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Via CNNMoney.com …

A key index of business activity in the nation’s services industry rose unexpectedly in March, but the indicator remained below the level that shows growth in the sector.

The Institute of Supply Management’s March report on businesses outside of the manufacturing sector rose to an index reading of 49.6 from 49.3 in February, the ISM announced Thursday. Economists were expecting a reading of 48.5, according to a consensus compiled by Briefing.com.

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Via CNNMoney.com …

New filings for unemployment claims surged in the latest week to the highest level since September 2005, according to a government report released Thursday.

The Labor Department said applications for unemployment benefits rose to 407,000 in the week ended March 29, up from a revised 369,000 claims in the previous week.

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WASHINGTON (AP) — Employers slashed 63,000 jobs in February, the most in five years and the starkest sign yet that the country is heading dangerously toward recession or is in one already.

The Labor Department’s report, released Friday, also indicated that the nation’s unemployment rate dipped to 4.8 percent as hundreds of thousands of people — perhaps discouraged by their prospects — left the civilian labor force. The jobless rate was 4.9 percent in January.

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