Economic Recovery, 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.

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.

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.

Sales of previously owned U.S. homes surged to their highest level in more than two years in September, a survey showed on Friday, providing further evidence the housing market and economy were on the mend.

Foreign direct investment into China rose 19% in September, suggesting appetite from abroad for investing in China is picking up as the economy recovers.

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. consumer sentiment rose in late September to the highest since January 2008 as expectations of an economic rebound gathered momentum, a survey showed on Friday.

Investors are holding on to their optimism about the economy, sending stocks to fresh 2009 highs. Market indicators rose about 0.5 percent in midday trading Monday, following a surge in overseas markets and extending a big advance from last week.