Jobless Report Pushes Dollar Up

Sat., Sept. 7, 1996

Associated Press

The dollar moved higher Friday, following stock and bond markets, after the government’s monthly jobs report showed strong gains without heightening worries about inflation.

Bond prices initially fell after the Labor Department issued its report on August employment showing 250,000 new jobs and a jobless rate of 5.1 percent, a seven-year low. But prices quickly recovered and by the time the stock markets opened, bonds, stocks and the dollar were moving higher.

While strong, the numbers weren’t as robust as some had come to expect after surprisingly low weekly jobless claims numbers were released Thursday.

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