Stocks Mixed After Labor Department's Unemployment Report - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Stocks Mixed After Labor Department's Unemployment Report

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NEW YORK, (CBS) - Stocks have been mixed Friday following the Labor Department's latest monthly unemployment report. United States employers added just 169,000 jobs in August. That's fewer than expected.

The number of Americans working or looknig for work has fallen to a 35 year low, which helped bring the unemployment rate down to 7.3 percent in August. Most of the hiring was in lower paying service jobs.

This is the last jobs report the Federal Reserve will see before deciding whether to begin scaling back its economic stimulus program later this month. The FED's bond buying has helped keep interest rates historically low.

The job market may be slow to recover, but recent figures show manufacturing and construction are picking up. Housing remains a bright spot and consumers are still spending. Analysts say that will lead to more jobs in the months ahead.

 

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