jobs report

U.S. employers pulled back on hiring in April for the second straight month, evidence of an economy still growing only sluggishly. The unemployment rate dipped, but only because more people gave up looking for work.

Stocks are opening slightly lower despite a government report that the unemployment rate dropped in December to the lowest level in nearly three years. The Labor Department said early Friday that the unemployment rate fell last month to 8.5%, while U.S. employers added a net 200,000 jobs.

New government data shows that the U.S. added just 54,000 new jobs in May, far less than what economists were expecting. The news, which sent the jobless rate up to 9.1%, sent stocks lower on Wall Street.

The unemployment rate fell to a two-year low of 8.8 percent in March and companies added workers at the fastest two-month pace since before the recession began.

Employers ramped up hiring in February, adding a total of 192,000 jobs to the U.S economy. Even better, the unemployment rate fell for the third straight month to 8.9% -- close to a two-year low. Private employers added 222,000 jobs last month, the most since April.

The all-important January employment reports come out this week. Also worth watching for are a host of earnings releases, led by economic bellwhether UPS. The package deliverer is expected to post strong results.

The dismal November jobs report has commentators pointing derisively to a "jobless recovery." But investors shouldn't overreact: Employers have historically held off on hiring when the stock market has been volatile.

The recent tremors in the markets may have deep roots. As investors are becoming aware, there is growing evidence that the economy is slowing down in Europe, Asia and the U.S. Here's a look at some of the key data.

Wall Street opened higher Friday after new government data showed that the U.S. economy lost a total of 54,000 jobs in August -- much less than expected. The unemployment rate, however, rose to 9.6%.

With the latest weekly initial jobless claims declining 6,000 to 472,000, the U.S. labor market has eked out some modest improvement. Still, jobless claims need to drop below 400,000 during the next two quarters to show broad economic gains.