Economy, 2009 | featured news

The government said the economy shed 85,000 jobs last month, surprising forecasters, while the unemployment rate held steady at 10 percent.

The 16 percent decline in November was far larger than the 2 percent expected by economists.

Dow futures were up 30 points. The S&P Case-Shiller home-prices indexes showed U.S. home prices decreased at a slower annual rate in October, but prices were flat compared to September.

Wall Street is likely to make a strong showing in the final week of 2009 as the bulls gear up to toast the first annual advance for U.S. stocks in two years on hopes of more economic stability in 2010.

The recovery may have gotten off to a slow start in the third quarter, but a surge in sales of existing homes in November could presage a more robust end to the year.

California's unemployment rate fell in November, another sign that a recovery is underway, even as the state shed jobs from its payrolls.

The state's unemployment rate slid to 12.3%, the Bureau of Labor Statistics reported this morning, down from 12.5% the month before. It is one of 36 states that saw unemployment rates decline in November.

U.S. job losses slowed sharply in November and the unemployment rate unexpectedly declined, in a sign the labor market is finally starting to heal.

The U.S. labor market improved in November, with the number of jobs lost in the private sector falling again and the number of planned layoffs also easing, separate reports showed on Wednesday.

US retail sales rebounded in October as demand for cars continued to climb even after the expiration of government sponsored incentives.

A lower dollar appears to be boosting the U.S. economy only gradually, with higher prices on imported oil helping outweigh the benefit of cheaper American exports....