U.S. government says the sluggish economy grew a bit faster than first
estimated in the second quarter of the year, but still not fast enough
to reduce the country’s high unemployment rate.
The government said Thursday that the nation’s economic output advanced
1.3 percent in the April-to-June period, up from the previous estimate
of 1 percent. Even so, the U.S. said its economy, the world’s largest,
grew only by nine-tenths of one percent for the first half of the year.
That was the weakest six-month performance since the recession
officially ended more than two years ago.
U.S. companies have been reluctant to hire more workers, leaving 14
million people unemployed. The government said Thursday that first-time
unemployment compensation claims fell sharply last week, down 37,000 to
a 391,000 figure.
But the government said the decline may have been an aberration, making
it difficult to compare with longer-term trends