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Stocks rise after better-than-expected jobs report

NEW YORK (AP) — Stocks rose today after the government's employment report showed fewer jobs were cut in February than expected.

The Labor Department's monthly report is closely watched by investors and is seen as the most important measure of the economy's health.

The better-than-expected jobs report helped push oil and other commodities higher. That helped energy and material companies like ExxonMobil Corp. and Chevron Corp.

Apple Inc. got a big boost as well after the company said its much-anticipated iPad table computer will hit store shelves on April 3.

Employers cut 36,000 jobs last month, better than the 50,000 cuts forecast by economists polled by Thomson Reuters. The unemployment rate held steady at 9.7 percent. Economists were expecting it to rise to 9.8 percent.

Friday's gains, which followed a late-day rally on Thursday, suggests that investors are optimistic the U.S. economy is improving. Though employers aren't yet adding full-time staff, jobs growth is fundamental to a recovery because it puts money in more workers pockets, allowing them to increase spending.

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