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Joseph Smith Jr. has been chosen to oversee the multibillion-dollar national mortgage settlement announced earlier this week. Smith is described as a man who understands the plight of the homeowner without forgetting what makes a successful banking industry work.

Even the guy in charge of the Dow doesn't check it every day. Yet we're constantly bombarded by news of the Dow's daily movements.

Private employers added 257,000 jobs to their payrolls, the Bureau of Labor Statistics also says. A slight drop in employment at government agencies brought the overall gain in jobs down to 243,000.

New York and New Jersey were able to avoid big cuts to instruction in their public schools thanks to the U.S. government's stimulus spending, according to a new report by the Federal Reserve Bank of New York. 

Standard & Poor's said its downgrades reflect its belief that the eurozone hasn't done enough to mitigate its debt crisis. The downgrades could have deep implications for the health of the monetary union.

The unemployment rate is near a three-year low and there were 1.9 million private-sector jobs added to payrolls last year, the Bureau of Labor Statistics says.

The Fed hopes by giving the market some foresight, it can better manage expectations.

The year that passed disappointed both investors and job seekers. Economists think the new year will be a bit better, with GDP growth rising to 2.4 percent. Much depends on European leaders' ability to fix the ongoing debt crisis; they may find a solution in 2012, but consequences are dire if not.

Right now is a perfect moment for a liquidator. The economy is bad enough that big companies are going out of business, but good enough that customers will come and buy the stuff that's for sale.

Economists say the black unemployment rate is so high — 15.5 percent — for a number of reasons, like less education, job discrimination and huge slashes in public sector jobs. Blacks make up about 10 percent of the full-time working population but 27 percent of the long-term unemployed, an NPR/Kaiser survey found.

The news comes after Ireland posted disappointing GDP numbers and further pressures the European Union to take definitive action on its sovereign debt crisis.

The decline was not expected. It brings claims down closer to a level associated with an improving labor market.

Steuben Glass of Corning, N.Y., officially closed its doors this week after more than a century in business. The brand Steuben became synonymous with luxury in the early part of the 20th century but gradually lost the cache necessary to compete in today's marketplace other than as high-end collectibles.

The highly anticipated news brought a surprise: The unemployment rate had been expected to stay at 9 percent. But it fell in part because of an increase in the number of "discouraged" workers. They've given up looking for jobs.

Reports of increased hiring and strength in manufacturing along with central banks moving to help ease Europe's financial crisis sent stock markets up sharply Wednesday. Analysts said the economy isn't on the verge of booming, but the risks of a double-dip recession have eased.

The increase in the ADP National Employment Report was well above economists' expectations. And it could be a sign that Friday's news from the government on November job growth will also be positive.

Weighed down by losses, a weak economy and the ripple effects of Europe's financial crisis, the company is looking to reorganize. It says operations will continue as normal.

Shoppers stormed retail stores this past weekend, and now on Cyber Monday, many are clicking their way to more purchases. One estimate says U.S. consumers may spend $1.2 billion online Monday, smashing last year's record of just over $1 billion.

A good first weekend is welcome news. But after a deep recession and with unemployment still high, analysts want to wait and see.

More mixed news in the latest economic indicators — including a slight increase in jobless claims and another decline in orders for durable goods.