In a sharp improvement, more than half of U.S. states added jobs in October, though economists said many of the gains likely occurred in temporary employment.

U.S. Treasury Secretary Timothy Geithner on Thursday defended the costly bailout of insurer AIG and urged swift regulatory reform to safeguard the economy from the failure of big financial firms.

Construction of new homes unexpectedly plunged last month, as builders waited to see whether lawmakers would extend a tax credit for homebuyers.

Foreign demand for long-term U.S. financial assets rose in September as China and other countries boosted their holdings of Treasury securities.

Industrial production edged up 0.1 percent in October, a smaller-than-expected increase that signals a bumpy recovery ahead.

Foreign demand for long-term U.S. financial assets rose in September as China and other countries boosted their holdings of Treasury securities.

Businesses slashed inventories for a 13th consecutive month in September although the pace of reductions slowed from the previous month. The economic rebound is expected to remain tentative until businesses switch to rebuilding their stockpiles.

The federal deficit hit a record for October as the new budget year began where the old one ended: with the government awash in red ink.

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Construction spending in September posted a better-than-expected performance, powered by the largest jump in housing construction in more than six years.

Sales of new homes dropped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wane.

The number of newly laid-off workers filing claims for unemployment insurance has fallen to the lowest level since early January, a sign the labor market is slowly improving.

America's stores saw some signs of life from consumers in September, resulting in the first sales gain since July 2008 and fueling some hope for the holiday shopping season.

Former Federal Reserve Chairman Alan Greenspan predicted on Sunday that the jobless rate will pass 10 percent and stay there for a while, and a second stimulus plan is not needed now.

The August unemployment rate fell in about 60 percent of metropolitan areas from the previous month, as layoffs ease nationwide.