Weekly applications for U.S. unemployment benefits ticked up slightly last week, the latest sign of slow but consistent gains in the job market.
The U.S. economy grew at an annual rate of 3.1 percent over the summer as consumers spent more and state and local governments added to growth for the first time in three years — but the economy is likely slowing in the current quarter.
U.S. builders started construction last month on the most homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.
A flurry of reports Thursday showed that U.S. consumers are growing more confident and spending more, boosting a still-weak economy just five days before the presidential election.
The number of Americans applying for unemployment benefits dropped by 35,000 last week, a figure that may have been distorted by seasonal factors.
