While jobs data in the U.S. is far from great, it did improve over the last few weeks, according to Bloomberg. The Department of Labor said jobless claims fell, dropping by 9,000 unemployment applications to 323,000 filings for the week ending Aug. 31. The publication has more:
Employers are holding the line on dismissals, setting the stage for a pickup in hiring to meet any acceleration in demand as the effects of federal budget cuts and higher payroll taxes begin to wane. Growth in employment and rising incomes will help sustain consumer spending, which accounts for about 70% of the economy.