WKYT | Lexington, Kentucky | News

Stocks inch higher following jobs report

WASHINGTON (AP) - Stocks are mostly edging higher on Wall Street in early trading after the U.S. government reported that hiring held up last month.

The Dow Jones industrial average rose 11 points to 13,403 shortly after the opening bell Friday.

U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during tense fiscal cliff negotiations in Washington.

The Labor Department says the unemployment rate stayed at 7.8 percent last month. November's rate was revised higher from an initially reported 7.7 percent.

Robust hiring in manufacturing and construction fueled the gains. Construction added 30,000 jobs, the most in 15 months. That likely reflects additional hiring needed to rebuild after Superstorm Sandy and also solid gains in home building that have contributed to a housing recovery.

Manufacturing gained 25,000, the most in nine months.

Even with the gains, hiring is far from accelerating. Employers added an average of 153,000 jobs a month last year, matching the monthly average in 2011.


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