Gains on Wall Street Ends, Unemployment Rate Increased Slightly in January
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iStock/Thinkstock(NEW YORK) — After four days of gains, Wall Street posted losses to close the week on Friday, while the Labor Department announced the addition of over 250,000 jobs in January, despite a slightly higher unemployment rate.
The Dow Jones Industrial Average dropped 96.97 to 17787.91.
The Nasdaq slipped 29.09 to a close of 4736.01, while the S&P 500 dipped 10.30 to 2052.22.
The Labor Department on Friday released January employment figures, showing 257,000 jobs created in January, more than anticipated by many economists. Still, the unemployment rate rose one-tenth of a percent to 5.7 percent. The report also stated that average hourly wages climbed 12 cents — the largest monthly gain since January 2008.
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