Economic Recovery, November | featured news

Employment growth picked up speed in November and the jobless rate dropped to a 2-1/2 year low of 8.6 percent, further evidence the economic recovery was gaining momentum.

New single-family home sales rose in November but to a lower- than- expected rate , a government report showed on Thursday, highlighting the weakness in the housing market even as the broader economic recovery gains momentum.

New claims for jobless benefits dipped last week and consumer spending increased in November for a fifth straight month, reinforcing views of a solid economic growth pace in the fourth quarter.

Vice President Joe Biden says a weak November jobs report is "disappointing" and a sign that the economic recovery is fragile.

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.