UNEMPLOYMENT

The number of U.S. workers filing new claims for jobless benefits surged to a 26-1/2-year high last week, data showed on Thursday, indicating that layoffs have yet to peak even as other reports signaled some improvement in the economy.

The number of U.S. workers filing new claims for jobless benefits surged to a nearly 26-1/2 year high last week, data showed on Thursday, indicating that the pace of job losses was yet to peak.

The number of U.S. workers filing new claims for jobless benefits unexpectedly rose to its highest level in over 26 years last week and so-called continued claims jumped to a record high in March, according to data that underscored the labor market deterioration.

Mounting job losses and plans to lay off more workers continued to weigh on the U.S. economy in March, according to private reports that have analysts and investors bracing for more grim U.S. government labor market data from the government on Friday.

Job losses in the U.S. private sector accelerated in March, more than economists' expectations, according to a report by ADP Employer Services on Wednesday.

The world economy will shrink at a far faster pace than originally expected this year, sending unemployment soaring and highlighting the need for extra steps to halt the crisis, the OECD said on Tuesday.

The U.S. recession may be easing, but the economy has not hit bottom yet and mounting unemployment looks likely to keep demand sluggish for a while. While the economy still appears on a downward path, the slope is not as steep as many had feared.

The global economic crisis will hit jobs hard, with unemployment set to reach double digits in many developing and advanced countries, the Organization for Economic Cooperation and Development (OECD) said on Sunday.

The global economic crisis will hit jobs hard, with unemployment set to reach double digits in many developing and advanced countries, the Organization for Economic Cooperation and Development (OECD) said on Sunday.

U.S. consumer spending rose for a second consecutive month in February and sentiment edged up in March, according to reports on Friday that backed views that the worst of the recession may be over.

U.S. consumer spending rose for a second consecutive month in February and sentiment edged up in March, according to reports on Friday that backed views that the worst of the recession may be over.

The U.S. economy should start growing by the end of this year and unemployment, expected to peak at around 9 percent, will begin to decline in 2010, Chicago Fed President Charles Evans said on Tuesday.

The world is in a dire economic crisis, but no recovery is possible until the financial sector is cleaned up, the head of the International Monetary Fund said on Monday. It's chief said the crisis will push millions into poverty and unemployment, risking social unrest and even war, and urgent action is required.

The number of U.S. workers drawing state unemployment benefits hit another record high early this month and factory activity in the Mid-Atlantic region shrank again as the economy battles a severe downturn.

By Lucia Mutikani

The number of U.S. workers drawing state unemployment benefits scaled another record high early this month, government data showed on Thursday, highlighting the difficulties of getting new jobs as the economy battles a severe recession.

U.S. retail sales dipped only slightly in February, a hint spending could be stabilizing, but a record high number of workers drawing state jobless benefits indicated pressure was still mounting on consumers.

The number of U.S. workers drawing unemployment benefits hit a record in February as companies struggle with a 14-month recession, data showed on Thursday, but a slight easing in retail sales last month offered cautious optimism.

The number of U.S. workers drawing unemployment benefits hit a record in February as companies struggle with a 14-month recession, data showed on Thursday, but a slight easing in retail sales last month offered cautious optimism.

The number of U.S. workers drawing unemployment benefits hit a record in February as companies struggle with a 14-month recession, data showed on Thursday, but a slight easing in retail sales last month offered cautious optimism.

U.S. wholesale inventories fell for the fifth consecutive month in January and sales plummeted amid a slump in demand, a government report showed on Tuesday.