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.



February 8, 2014 at 3:23 pm

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