NEW YORK (AP) — Stocks are edging higher after the government reported that the unemployment rate fell to its lowest level in almost two years.
The Labor Department says the unemployment rate fell to 9.4 percent from 9.8 percent, its lowest level in 19 months. The lower rate reflects the fact that more people found jobs, while others stopped looking. The economy created a net total of 103,000 jobs in December. That’s more than the revised total of 71,000 from November but still far less than economists predicted.
At the opening bell Friday, the Dow Jones industrial average is up 10 points, or 0.1 percent, at 11,707. The Standard & Poor’s 500 index is up 2, or 0.1 percent, at 1,276. The Nasdaq composite index is up 2, or 0.1 percent, at 2,712.
