Economy, Good News | featured news

An increase in hiring helped lower unemployment rates in 37 U.S. states last month, the latest indication that the job market is slowly healing.

Home resales rose in October and a gauge of homebuilder sentiment climbed to a six-year high in November, a sign slow improvements in the labor market are helping the housing sector recovery gain traction.

The housing rebound stems from more people chasing fewer homes. Interest rates remain near record lows, luring buyers. And investors with cash have poured into the market.

Stocks were higher Monday after last week's steep losses on upbeat economic data from China over the weekend.

Inventories at U.S. wholesalers rise at the fastest pace this year in September, adding to evidence that 3Q growth may have been stronger than initially thought.

Consumer sentiment rose to its highest level in more than five years in November as consumers felt more optimistic about employment prospects and the outlook for the overall economy, a survey released on Friday showed.

The number of people seeking unemployment benefits fell last week by 8,000 to a seasonally adjusted 355,000, a possible sign of a healing job market. But officials cautioned that the figures were distorted by Superstorm Sandy.

A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more evidence of a sustainable housing recovery....

U.S. employers added 171,000 jobs in October, and hiring was stronger in August and September than first thought. The unemployment rate inched up to 7.9 percent from 7.8 percent in September... The government revised its data to show that 84,000 more jobs were added in August and September than previously estimated. The jobs gains in October were widespread across industries. And the percentage of Americans working or looking for work rose for the second straight month.

U.S. unemployment, as measured by Gallup without seasonal adjustment, fell to 7.0% for the month of October, down significantly from the 7.9% measured at the end of September. Gallup's seasonally adjusted unemployment rate is 7.4%, improved more than a half a point from September.