Applications for U.S. jobless benefits declined last week to the lowest level in 15 years, showing employers view a first-quarter slowdown in the economy is probably temporary.

Employers added more than 200,000 workers to payrolls in October for a ninth consecutive month and the jobless rate dropped to the lowest level in six years as the American economy powered past a global slowdown.

Contracts to purchase previously owned homes rose less than forecast in September, showing housing will take time to gain momentum.

Sales of previously owned homes climbed in September to the highest level in a year, pointing to growing confidence in the U.S. economy as employment firms.

Housing starts climbed 6.3% to a 1.02 million annualized rate from a 957,000 pace in August, the Commerce Department reported today in Washington.

Home prices in 20 U.S. cities rose in the year ended in July at the slowest pace in almost two years as still-tight credit and limited wage gains weigh on demand.

The challenges facing prospective buyers of the least expensive homes in the U.S. are getting harder to overcome.