The US jobless rate rose slightly in August to 9.6 per cent, government statistics showed Friday, even as businesses added more jobs than expected.
Private employers added 67,000 jobs last month, according to Labour Department statistics.
It was the first increase in the unemployment rate in months, reflecting the fact that more people are entering the job market as the economy slowly begins to pick up.
Economists were heartened by the private sector job increase, which is seen as a better gauge of economic health than the overall figure. That's because the overall figure was affected by the swing in workers prompted by the once-a-decade census count, whereas the private sector figures more accurately show underlying trends.
The blue-chip Dow Jones Industrial Average rose 127.83 points, or 1.24 per cent, to 10,447.93. The broader Standard and Poor's 500 Index was up 14.41 points, or 1.32 per cent, to 1,104.51. The technology-heavy Nasdaq Composite Index climbed 33.74 points, or 1.53 per cent, to 2,233.75.
The US currency fell against the euro to 77.54 euro cents from 77.97 euro cents on Thursday. The dollar remained unchanged against the Japanese currency at 84.31 yen.//DPA
