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Unexpected drop in U.S. unemployment

US unemployment dropped unexpectedly to 8.2 percent in March, the lowest rate in more than three years, despite a mixed picture on hiring and apparent weakness in the retail sector. Despite the positive headline number, the Labor Department reported that the number of unemployed workers hovered close to 13 million…

Jobless rate falls to lowest since Obama took office

US businesses cranked up hiring in January in a burst of job growth that pulled the US unemployment rate down to 8.3 percent, nearly a three-year low, official data showed Friday. The blockbuster jobs report blew past expectations, providing a shot of good news for President Barack Obama’s reelection bid…

US jobless rate falls in big job surge

The US unemployment rate dropped to 8.5 percent in December, the lowest level in nearly three years, as hiring surged more than expected, government data showed Friday. The Labor Department report confirmed an improving trend in the ailing job market. The department noted that the number of unemployed as well…

U.S. company profits surge, even as economy slows

Major US companies are packing away record profits even as the economy falters, unemployment remains high and the debt-ceiling crisis has shaken confidence in the country, analysts said. In July, corporate giants such as 3M, Caterpillar, Goodyear, Microsoft and Apple reported blockbuster results in the second quarter of 2011, though…

Companies near record profits amid high unemployment

NEW YORK — Major US companies are packing away record profits even as the economy falters, unemployment remains high and the debt-ceiling crisis has shaken confidence in the country, analysts said. In July, corporate giants such as 3M, Caterpillar, Goodyear, Microsoft and Apple reported all-time high revenues in the second…

Obama announces nearly $2 billion in contracts for solar energy companies

US President Barack Obama announced on Saturday the awarding of nearly two billion dollars to two solar energy companies that have agreed to build new power plants in the United States, creating thousands of new jobs. “We’re going to keep fighting to advance our recovery,” Obama said in his weekly…

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