Shares of manufacturing and transportation companies ticked down after a mixed jobs report. The U.S. economy lost jobs in September for the first time in seven years, with a decline of 33,000 in payrolls. There were other signs of strength in the report, however, with the unemployment rate falling to 4.2%, the lowest since 2001. "I wouldn't make too much out of it just yet," said Michael Arone, chief investment strategist at State Street Global Advisors' US SPDR business. "Certainly Hurricanes Harvey and Irma affected [the data.] That said, the rate of jobs growth been decelerating for a little while now." Mr. Arone said it would be prudent to wait for further jobs data before drawing conclusions over whether there's a more lasting trend in slowing jobs market. In a good sign for the global economic recovery, orders for German manufacturers rose 3.6% in August.
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(END) Dow Jones Newswires
October 06, 2017 16:30 ET (20:30 GMT)