Posts tagged ‘job data’

Wall Street dismisses weak jobs data, edges higher

U.S. 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 U.S. 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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February 8, 2014 at 3:23 pm


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