US STOCKS-Strong jobs data set to boost Wall Street

viernes 8 de julio de 2016 09:00 GYT
 

* 287,000 jobs added in June vs est 175,000

* June unemployment up 4.9 pct vs est 4.8 pct

* Futures up: Dow 102 pts, S&P 13 pts, Nasdaq 17.75 pts (Adds details, comments, updates prices)

By Yashaswini Swamynathan

July 8 (Reuters) - Wall Street was set to open higher on Friday as strong monthly jobs data assuaged concerns about the health of the labor market.

Data showed that 287,000 jobs were added in the public and private sectors in June, compared with the 175,000 expected by economists.

The data confirms the sentiment that the dismal May report was an aberration and not indicative of weakness in the labor market. The payroll count for May was revised down to 11,000 from the previously reported 38,000.

Unemployment in June rose to 4.9 percent, compared with the estimate of 4.8 percent. A reading below 5 percent indicates full employment.

"That was a blowout number. It shows the U.S. economy was on pretty firm footing going into the Brexit vote," said Brian Jacobsen, chief portfolio strategist, Wells Fargo Funds Management, Menomonee Falls, Wisconsin.   Continuación...