Stocks drift lower after US jobs disappointment

By ASSOCIATED PRESS
February 4, 2011 17:42

LONDON — A smaller than anticipated increase in the number of US jobs created in January weighed on stocks Friday, though the retreat was kept in check by news that the unemployment rate fell to its lowest level in nearly two years.

The Labor Department reported that employers, both private and public, added only 36,000 jobs during the month. That was way below expectations for payrolls growth of 140,000 but may have been due to the fact that around 700,000 people couldn't get to work because of the weather.


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