Stocks Weaken Despite Strong December Jobs Report

By DANIEL WAGNER, AP Business Writer

Stocks are opening slightly lower despite a government report that the unemployment rate dropped in December to the lowest level in nearly three years.

The Labor Department said early Friday that the unemployment rate fell last month to 8.5%, while U.S. employers added a net 200,000 jobs.

It was the latest in a string of positive signs about the labor market. The economy has generated 100,000 or more jobs each month for the past six - the longest such streak since April 2006.

The Dow Jones industrial average is down 21 points, or 0.2%, at 12,395 shortly after the opening bell. The Standard & Poor's 500 index is down 2, or 0.1%, at 1,279. The Nasdaq composite index is down 2, or 0.1%, at 2,667.

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If the economy needs 125,000+ new jobs per month just to keep up with new workers there is something wrong with the numbers.

January 09 2012 at 8:02 AM Report abuse rate up rate down Reply

We are not going to be snookered on the political spin for Obama's re-election. The main stream media is going to spin everything and if we bite we will lose.

January 07 2012 at 11:16 AM Report abuse +2 rate up rate down Reply

What great "JOBS" Report? And the Administrations' full time spending spree that has led us into a multitrillion
dollar bill that will take decades to recover -uh you have nothing to say about that? That's o.k.? . The Administration is shooting itself full of holes with a much larger calibre weapon. The weapon is called SPENDING. Open thine eyes, oh wizards of financial wonderland! Thou art biased to say the least!

January 06 2012 at 4:25 PM Report abuse +3 rate up rate down Reply