| Falling Unemployment and Strong Job Growth Push Stocks Higher! |
| Feb-03-2012 |
| Keywords: stocks rally, unemployment rate, 8.3%, non farm payrolls, 243,000 |
Wall Street investors and Americans at large are feeling better about the U.S. economy.
The Labor Department reporting that the economy added 243,000 jobs in January, with an additional 60,000 jobs added to the original reports for the final two-months of 2011.
The unemployment rate falls to 8.3%, the lowest level of unemployment since February 2009. One murky aspect of the unemployment data is debate about the validity of the BLS figures regarding the 1.2 drop in the civilian workforce, which resulted in the participation rate falling to a 30-year low of 63.7 percent.
All in all, the reports are being viewed as evidence of a strengthening economy, with stocks on Wall Street gaining more than 1%, putting the Nasdaq Composite and the S&P 500 on track to log weekly gains for the first five weeks of 2012.
Full Story: U.S. Job Growth Hits Fastest Pace in 9 Months |
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Posted by Lou Dobbs Staff at 12:03 PM Email to a friend |
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