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Midday Market Update

Not All Rosy as Unemployment Rate Lowers

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U.S. Markets
U.S. government data showed that the economy added about 178,000 new jobs in November as the unemployment rate hit a nine-year low of 4.6%. However, it wasn’t all rosy as the hourly earnings decreased by 0.1%. One of the primary reasons for the decline in unemployment rate was a contraction of the labor force by 226,000.

U.S. stocks opened the morning in the red as the jobs data fell shy of meeting Wall Street's estimate of 200,000 new nonfarm jobs. The S&P 500 and Nasdaq slowly crawled to the green zone and are up 0.13% and 0.02%, respectively. The Dow is down 0.12%.

Manjul Bhusal Sharma does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.