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The nation's unemployment rate shot up to 7.2 percent last month. It's the highest level in nearly 16 years. Governments and businesses cut more than half a million jobs in December. For all of 2008, the economy lost 2.6 million jobs.

The government said Friday the economy shrank at an annual rate of 6.2 percent. Meanwhile, the Treasury Department announced it is converting some preferred shares it owns in Citigroup to common stock, a move that helps stabilize the bank, but increases risks for taxpayers.

Middle school can be a challenging time and it turns out bike riding may help. Researchers found students who took part in a 6 to 8 week cycling class reported having a more positive outlook on life.

Two Democratic legislators with parts of McLean County in their districts — State Sen. Dave Koehler and State Rep. Sharon Chung — are spearheading the legislative efforts in the Senate and House. So far, the bill has received bipartisan support in both chambers.

The downpours and flooding blocked roads, floated vehicles and delayed the Florida Panthers on their way to Stanley Cup games in Canada against the Edmonton Oilers.

Economists had expected better news. Private payrolls grew by just 57,000. Cuts at government agencies pulled the overall figure down even more. Previous months' job growth figures were revised down.

Three Al Jazeera English journalists, Mohamed Fahmy, Baher Mohamed and Peter Greste were sentenced to up to 3 years and 6 months in prison in a controversial case that's dragged on for nearly 2 years.

The market sputtered amid high mortgage rates, high prices, and homeowners with lower rates who have no plans to move.

The court by a vote of 6-3 ruled that those challenging the government's interaction with social media companies lacked legal standing to sue.

More inventory hitting the market was expected to drive sales. Instead, existing home sales suggest a continued slump in the housing market, with mortgage rates hurting affordability.