U.S. unemployment rate unexpectedly fell to 7.8%

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Source: Bloomberg
The U.S. jobless rate unexpectedly declined to 7.8% in September, the lowest level since Barack Obama became the U.S. President in January 2009, as employers hired more part-time workers. Economists projected the unemployment rate to increase from 8.1% to 8.2%. The U.S. economy added 114 000 employees last months following 142 000 gain in August, according to Labour Department figures. 

"The labour market is slowly regaining footing," Eric Green, Global Head of Rates and FX Research at TD Securities Inc. "The Federal Reserve wants to see traction, faster growth."

"We're looking for ongoing, sustained improvement in the labour market," Fed Chairman Ben S. Bernanke said following the announcement on September 13. "What we've seen in the last six months isn't it."

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Fri, 05 Oct 2012 18:14:53 GMT

Wall Street rocketed after better than expected unemployment data

U.S. stocks added to Friday gains as the unemployment rate in the world's biggest economy fell unexpectedly to 7.8% in September, down from 8.1% in the previous month. The Dow Jones Industrial Average surged 0.5%, to 13,636.54; the Standard & Poor 500 Index added 0.4%, to 1,467.78, while Nasdaq 100 futures jumped 0.3%, to 3,159.32.

Fri, 05 Oct 2012 14:27:51 GMT

German shares jump despite dismal factory orders figures

German stocks surged on Friday, supported by hopes that the ECB will start buying bonds of troubled european nations. However, dismal data from German economy weighted down on equities. German factory orders dropped 1.3% on a seasonally adjusted basis in September compared to forecasts of a 0.5% decline last month. The DAX Index rose 0.63% to trade at 7,362.12. Seven

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