Governor hunting / surging. Either something is out of adjustment in the mechanical governing system, or more likely the engine is running too lean or rich when the load is off (i.e. just idling, no trigger). In general small engines run a lot better when under load (i.e. trigger depressed) and are more tolerant of overfueling. sberry is right, if the mixture was compromised somehow with either bad gas, orifice plugging, etc, then a quick disassembly, cleaning inspection and reassembly is a good place to start.
Watch your exhaust too and see if you can observe any further clues. White smoke = lean and hot, black smoke = too rich, blue smoke = you're carrying over and burning oil which could suggest breather problems.
Thanks,
Adam