Job Cuts Fewer than Expected in August
ETF Channel Staff - Friday, September 3, 12:46 PMEmployers cut 54,000 nonfarm jobs in August, nearly half the job losses economists had anticipated.
June and July payrolls were revised to reflect fewer job cuts, as well.
The unemployment rate grew by one-tenth of a percent in August, to 9.6%.
Average earnings rose 0.2% in August, to $19.08.
The news has stocks moving higher. The SPDR S&P 500 ETF (SPY) is trading up almost 1.3%.
Gold is lower by about three quarters of a percent, trading at a little less than $1,242 an ounce, and the SPDR Gold Shares ETF (GLD) is trading lower by .8%.
Crude oil is slightly lower, down about 11 cents to just under $75 a barrel, but the DB Oil Fund (DBO) is trading up .3%.
For MarketNewsVideo.com, I'm Kristin Bianco.
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