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Home >> Business
UPDATED: 13:34, February 03, 2007
Wall Street ends rally on unemployment rate
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Wall Street ended mixed Friday after a four-day-rally on unemployment rate.

The U.S. economy added 111,000 new jobs in January but the nation's unemployment rate rose to a four-month high of 4.6 percent, the Labor Department reported Friday.

The January figures defied analysts, who had been expecting a job gain of around 150,000 and an unemployment rate of 4.5 percent, the rate that was registered in December and November.

In January, "job growth continued in several service-providing industries, and construction employment also rose," the Labor Department said. "The number of manufacturing jobs continued to decline."

Dragged by unemployment report, the Dow Jones industrial average fell 20.19, or 0.16 percent, to 12,653.49.

The Standard & Poor's 500 index rose 2.45, or 0.17 percent, to 1,448.39 and the Nasdaq composite index advanced 7.50, or 0.30 percent, to 2,475.88.

For the week, the Dow was up 1.33 percent, while the Nasdaq gained 1.66 percent and the S&P 1.84 percent.

Source: Xinhua


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