80,000 New Jobs Help Drive Unemployment Down To 9%

MarketNewsVideo.com , 11.04.11, 02:00 PM EDT

The U.S. economy added 80,000 jobs in October, according to the Labor Department, while the unemployment rate declined to 9%, from 9.1% in September. On the upside, non-farm payrolls figures were revised higher for September and August. The Labor Department said businesses added 158,000 in September, compared to an initial reading of 103,000, and job growth rose to 104,000 in August, from an initial report of 57,000.

The dollar traded lower following the report. The U.S. Dollar Bullish Fund is trading up over .6%.

The FXE Euro Trust is trading down over .6% Friday, while the Japanese Yen Trust trades down over .2%.

Gold is trading up, leading the iShares Gold Trust to trade down over .6%, and the SPDR Gold Shares to trade down over .7%.

The stock market in general is trading lower, with the SPDR S&P 500 trading down 0.8%.

http://www.forbes.com/2011/11/04/econom ... video.html