Labor costs surge; service sector strong
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Labor costs have risen more robustly   this year than first thought, a government report showed on   Wednesday, raising concerns the Federal Reserve may need to   resume hiking interest rates to contain inflation.
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The buying power of U.S workers is now rising at the fastest rate since the economic boom of the late 1990s.
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UK factories enjoyed a strong upturn in new orders over the summer, but high oil prices are weighing on the service sector, surveys suggest.
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WASHINGTON -- The economy headed into the summer with strong momentum, propelled by a manufacturing rebound and consumers who eagerly went shopping and sightseeing despite high gas prices.
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Stocks rose on Tuesday after stronger-than-expected data on the services sector boosted optimism about U.S. economic growth and profits.
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Health insurance premiums for  workers are rising around three times faster than their wages,  and health costs eat up a quarter of earnings for more than 14  million Americans, according to a survey on Tuesday.
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New claims for jobless benefits moved higher last week, a possible sign that employers haven't completely let go of their caution and are looking to cut costs.
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NEW YORK -- The nation's service sector expanded at a faster-than-expected pace in May, suggesting it could help sustain broader economic growth as the automotive and housing industries slump, a research group said Tuesday.
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U.S. business productivity rose at a  much stronger-than-expected 3.0 percent annual pace in the  fourth quarter while unit labor costs moderated, in good news  for the inflation-wary Federal Reserve.
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Health insurance premiums for workers are rising around three times faster than their wages, and health costs eat up a quarter of earnings for more than 14 million Americans, according to a survey on Tuesday.
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The number of workers filing new claims for jobless aid jumped by a much larger-than-expected 69,000 last week to the highest in over two years, government data on Thursday showed, but the numbers were likely skewed by the timing of a public holiday.
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Productivity in the fourth quarter rose at a stronger-than-expected pace as the biggest cutback in working hours in nearly five years helped restrain growth in labor costs, a U.S. Labor Department report showed on Wednesday.
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The nationâs service economy expanded at a faster-than-expected clip in June, a research group said Thursday.
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The pace of new job creation accelerates sharply in the US, reinforcing hopes that the economy is strengthening.
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A big jump in energy costs sharply pushed up prices that U.S. manufacturers and wholesalers paid for goods last month, but outside of energy the inflation picture looked tame.
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Consumer prices rose faster than most workers' wages last year, as surging energy prices pushed inflation to the highest level in four years, the Labor Department said yesterday.
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The latest round of economic data was again mixed, reports showed Friday: Manufacturing activity increased in September for the 16th consecutive month and construction spending surged in August to a record high.