?The U.S. gross domestic product rose 2.6 percent in the third quarter of the year, which may signal the U.S. will not fall into a recession, though economists say the economy is slowing. GDP had declined 0.6 percent in the second quarter and 1.6 percent in the first quarter, according to the U.S. Department of Commerce.
Separately, states reported that 217,000 workers filed for new unemployment benefits during the week ending Oct. 22, a slight increase from previous weeks. More employers may be conducting layoffs as the Federal Reserve enacts policies to slow spending and bring down inflation.
The national unemployment rate, at 3.5 percent, is at a 50-year low as employers mark 21 months of job growth. The number of job openings, though, has begun to cool, as employers created 1 million fewer jobs in August than they had in July. The next Job Openings and Labor Turnover Survey, due Nov. 1, may show a more even balance of power between employers and jobseekers, if fewer jobs are created and fewer workers leave their positions.
