UNEMPLOYMENT

U.S. nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply, disappointing investors looking for a stronger figure.

Nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply as businesses opted to increase hours rather than hire new workers.

Nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply as businesses opted to increase hours rather than hire new workers.

Nonfarm payrolls likely rose at their fastest pace in nearly 27 years in May as the government ramped up hiring for the census and businesses grew more optimistic about the economy, a Reuters survey showed.

Corrects number of private jobs created in April in 5th paragrap

Three top Federal Reserve officials said on Thursday it may soon be time to begin raising interest rates as the economic recovery in the United States gathers momentum, despite persistently high unemployment.

U.S. nonfarm payrolls likely rose at their fastest pace in nearly 27 years in May as the government ramped up hiring for the census and businesses grew more optimistic about the economy, a Reuters survey showed.

Stocks edged up on Friday, with investors anticipating a strong reading for a key employment report due out later in the day, which could provide an indication of the pace of recovery in the world's largest economy.

Private sector employers added jobs in May and the economy's dominant services sector increased payrolls for the first time in more than two years, building evidence that the labor market was picking up steam.

The U.S. economy is almost strong enough to allow the Federal Reserve to begin thinking about raising interest rates, Atlanta Fed President Dennis Lockhart said on Thursday.

Pending home sales hit a six-month high in April, data showed on Wednesday, but falling demand for home loans pointed to ebbing activity in the vital housing market due to the expiration of a popular tax credit for buyers.

The number of planned layoffs at U.S. companies in May was almost unchanged from April, when they touched a four-year low, suggesting employers are more upbeat about the economic outlook, a report on Wednesday showed.

Manufacturing grew for a 10th straight month in May and construction spending notched its fastest pace in nearly 10 years in April, suggesting the U.S. economy will add jobs and weather Europe's debt storm.

China warned on Monday that Europe's struggle to contain ballooning debt posed a risk to global economic growth, raising the specter of a double-dip recession.

U.S. consumer spending unexpectedly stalled in April after six straight months of gains, but rising income and consumer confidence pointed to solid consumption this quarter.

Consumer spending unexpectedly stalled in April after six straight months of gains, but rising income and consumer confidence pointed to solid consumption this quarter.

The House of Representatives on Friday was to vote on a reduced package of safety-net spending and tax measures that would raise taxes on fund managers, but it likely was too late to avoid disrupting jobless benefits for hundreds of thousands of Americans.

Consumer spending was unexpectedly flat in April after six straight months of gains, but growing consumer confidence in the economic outlook suggested consumption will remain strong this quarter.

Congressional Democrats floated more cuts on Thursday to a package of tax increases and safety-net spending as final passage of the measure looked likely to slip into June.

Congressional Democrats on Thursday floated more cuts to a package of tax increases and safety-net spending as final passage of the measure looked likely to slip into June.

Unemployment claims fell last week, suggesting the battered labor market is recovering but only slowly, the Labor Department said on Thursday.