US jobless rate dips below 5% for first time since February 2008 to overshadow news that January jobs report was weaker than expected Global stock markets fell on Friday after the news that US wages picked up and unemployment fell to an eight-year low raised the prospect of another interest rate rise in the world’s biggest economy this year.
The US jobless rate dipped below 5% for the first time since February 2008 to come in at 4.9% in January, the US Department of Labor reported. That fresh dip in unemployment and news that employers had increased hours for workers helped to overshadow a weaker than expected rise in current jobs in January.
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Source: theguardian.com