Good News, U.s. Economy | featured news

U.S. employers added 157,000 jobs in January, and hiring was much stronger at the end of 2012 than previously thought, providing reassurance that the job market held steady even as economic growth stalled.

The Dow rose higher and briefly topped 14,000 Friday, hitting a milestone not seen since before the financial crisis rocked the world economy.

U.S. consumers increased their spending in December at a slower pace, while their income grew by the largest amount in eight years. Income surged because companies rushed to pay dividends before income taxes increased on high-earners.

Private-sector employers added 192,000 jobs in January, more than economists were expecting, in a sign of growth in the labor market, a report by a payrolls processor showed on Wednesday.

Home prices rose in November to rack up their best yearly gain since the housing crisis began, a further sign that the sector is on the mend.

The U.S. economy is a study in contrasts. The housing, banking and auto industries are surging back to health and that has helped push the stock market to a five-year peak. Higher prices for homes and stocks tend to make people feel wealthier and spend more.

The number of Americans seeking unemployment aid fell last week to the lowest level in five years, evidence that employers are cutting fewer jobs and may step up hiring.

The number of Americans seeking unemployment aid plummeted to a five-year low last week, a hopeful sign the job market may be improving.

U.S. builders started work on homes in December at the fastest pace since the summer of 2008 and finished 2012 as their best year for residential construction since the early stages of the housing crisis.

The US Federal Reserve's latest report on the economy says activity has picked up slightly in the past two months.