Economy Adds 80,000 Jobs in October; Unemployment Falls Friday, November 4, 12:54 PM ET
October hiring data fell short of economist expectations today, although the unemployment rate fell.
The U.S. economy added 80,000 jobs in October, according to the Labor Department, while the unemployment rate declined to 9%, from 9.1% in September.
On the upside, non-farm payrolls figures were revised higher for September and August.
The Labor Department said businesses added 158,000 in September, compared to an initial reading of 103,000, and job growth rose to 104,000 in August, from an initial report of 57,000.
The dollar traded lower following the report. The U.S. Dollar Bullish Fund (NYSE:UUP) is trading up over .6%.
The Euro Trust (NYSE:FXE) is trading down over .6% Friday, while the Japanese Yen Trust (NYSE:FXY) trades down over .2%.
Gold is trading up, leading the iShares Gold Trust (NYSE:IAU) to trade down over .6%, and the SPDR Gold Shares (NYSE:GLD) to trade down over .7%.
The stock market in general is trading lower, with the SPDR S&P 500 (NYSE:SPY) trading down 1.5%.
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