U.S. Economy: Recession Concerns Ease on Private Jobs

By Shobhana Chandra

Sept. 3 (Bloomberg) — Companies in the U.S. added more jobs than forecast in August, easing concern the world’s largest economy is sliding back into a recession.

Private payrolls climbed 67,000 after a revised 107,000 increase in July that was more than initially estimated, Labor Department figures in Washington showed today. The unemployment rate rose to 9.6 percent as more people looked for work. A separate report showed service industries expanded more slowly than estimated.

Stocks climbed around the world and U.S. Treasuries slumped as the employment report bolstered Federal Reserve Chairman Ben S. Bernanke’s view that the conditions are in place for a pickup in growth in 2011. While companies such as Caterpillar Inc. are boosting staff as the global economy recovers, payrolls are expanding too slowly to bring down an unemployment rate hovering near a 26-year high. Leer más “U.S. Economy: Recession Concerns Ease on Private Jobs”