Businesses cut inventories at the wholesale level for a record 13th consecutive month in September, but sales rose for a sixth straight time.

The unemployment rate has surpassed 10 percent for the first time since 1983. Nearly 16 million people can’t find jobs and employers cut a net total of 190,000 jobs last month, the Labor Department says.

Toyota is pulling out of Formula One racing, the world’s largest automaker announcing Wednesday that it needs to cut costs and focus on its core business.

Fifth increase in six months bolstered hopes that a revival in manufacturing will help support an overall economic recovery. The worry is that if consumer spending falters in coming months, orders will slump again.

Hopes for the fledgling economic recovery got a boost today from better-than-expected news on manufacturing, construction and contracts to buy homes.

President Barack Obama says the public and private sectors must find more ways to create jobs to continue the U.S. climb out of an economic recession.

A private measure of U.S. manufacturing activity grew in October at the fastest pace in more than three years, helped by government spending and higher demand from overseas. The better-than-expected reading is a positive signal for the fledgling economic recovery.

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

Former Mass. Gov. Mitt Romney says the time has come to stop the economic stimulus program, contending that it has not worked as the Obama administration planned.

President Barack Obama said Saturday that reports the economy is growing again and that more than 1 million jobs were saved or created by his stimulus plan show “we are moving in the right direction.“

Employment costs rose by the smallest amount on record in the 12 months ending in September, as high unemployment restrained wage and benefit growth.

Consumer spending plunged in September by the largest amount in nine months, reflecting the end of the government’s cash for clunkers auto sales program. Incomes, the fuel for future spending, were flat

Asian stock markets snapped three days of losses Friday after the U.S. economy broke out of a yearlong slump, spurring hopes of improved demand for the region’s exports. European shares were mixed.

President Barack Obama is hailing new figures showing the economy grew at a 3.5 percent rate in the third quarter, saying the country has “come a long way” since early this year.

The government says the number of people claiming jobless benefits for the first time droppped slightly last week, evidence that the labor market remains weak even as the economy is recovering.