IN BRIEF
WASHINGTON — The economy tumbled at a 5.5 percent pace in the first quarter, but appears to be doing better now.
The revised reading on gross domestic product, released Thursday by the Commerce Department, showed the economy from January through March didn't fall as deeply as the 5.7 percent annualized decline reported a month ago.
Economists were predicting the government would stick with its previous estimate.
The main forces behind the small upgrade: businesses didn't cut stockpiles of goods as much and imports dropped more sharply than previously estimated.
WASHINGTON — The number of people filing new jobless claims jumped unexpectedly last week, and the total unemployment benefit rolls rose to more than 6.7 million.The Labor Department data released today show jobs remain scarce even as the economy shows some signs of recovering from the longest recession since World War II.The department said initial claims for jobless benefits rose last week by 15,000 to a seasonally adjusted 627,000. Economists expected a drop to 600,000, according to Thomson Reuters.Several states reported more claims than expected from teachers, cafeteria workers and other school employees, a department analyst said.
PALO ALTO, Calif. — Facebook is testing new privacy controls that will allow the online hangout's roughly 200 million users to decide who should see each of their personal updates.In a Wednesday announcement, Facebook said the option will enable users to customize their postings for specific groups of friends.For instance, a person may want to share certain things — like how they're feeling about the weather — with everyone while limiting the audience able to read other developments — like a wild night of partying.Some Facebook users have gotten into trouble with employers and parents who have read updates containing inflammatory remarks or tales of indiscretions.The additional privacy controls initially will only be available to some Facebook users.
