Economy, Service Sector | featured news

Reaction to last week's employment report translates into stock market gains as service sector, real estate also report upbeat news.

The economy's service sector grew in January for the first time since September while the pace of job losses moderated, a private trade group said Wednesday.

The U.S. service sector grew in September for the first time in 13 months, an encouraging sign for the fledgling economic recovery although jobs remain scarce.

U.S. private companies hemorrhaged nearly 700,000 jobs in February and the service sector slump deepened as the year-old recession showed little sign of abating, according to data released on Wednesday.