Nonfarm payrolls added 113,000 jobs in
January - well shy of the forecast for 185,000. December payrolls
were revised upward by only 1,000 to 75,000. The US unemployment rate
in January hit a five-year low of 6.6 percent; slightly above the 6.5
percent level that Fed officials have said would prompt them to
consider raising benchmark interest rates from near zero.
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US stocks jumped on
Friday, giving the S&P 500 its first weekly gain in four as the
impact of a weak reading on the labor market was dulled by harsh weather
conditions and traders focused on expectations of further economic
strength.
Nonfarm payrolls added 113,000 jobs in January - well shy of the
forecast for 185,000. December payrolls were revised upward by only
1,000 to 75,000. The US unemployment rate in January hit a five-year low
of 6.6 percent; slightly above the 6.5 percent level that Fed officials
have said would prompt them to consider raising benchmark interest
rates from near zero.
Read more at: http://www.moneycontrol.com/news/international-markets/wall-street-rallies-to-snap-three-week-skid_1039744.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/international-markets/wall-street-rallies-to-snap-three-week-skid_1039744.html?utm_source=ref_article
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