JOBS

Payrolls unexpectedly fell in January, but the unemployment rate surprisingly dropped to a five-month low, according to a government report on Friday that hinted at labor market improvement.

Stock index futures turned positive on Friday after jobs data showed the unemployment rate fell to a five-month low last month, even as employers unexpectedly cut jobs.

Employers unexpectedly cut 20,000 jobs in January, but the unemployment rate surprisingly fell to a five-month low of 9.7 percent, according to a government report on Friday that hinted at some labor market improvement starting to take root.

U.S. stock index futures fell on Friday, following Wall Street's worst day in more than nine months, as lingering worries over the fiscal health of some European countries curbed risk appetite ahead of a key U.S. jobs report.

Global shares hit three-month lows and the euro fell to an eight-month low against the dollar on Friday as euro zone sovereign debt problems and nerves ahead of U.S. jobs data led investors to dump riskier assets.

U.S. employers probably stopped cutting jobs and added 5,000 payrolls in January, the second monthly gain since the recession started in December 2007, the government is expected to report on Friday.

A White House spokesman said on Thursday it was possible that a jobs report due on Friday could include a revision in monthly data showing more jobs were lost in the recession than previously been thought.

The Dow briefly fell below the crucial 10,000 mark on Thursday as stocks suffered their worst losses in more than nine months.

A monthly gauge of online labor demand in the United States fell slightly in January as online recruitment activity remained subdued at the start of the year, a private research group said on Thursday.

U.S. stocks gave up more than 2 percent on Thursday after data showed new applications for jobless insurance rose unexpectedly last week, and basic materials shares sank as a rising U.S. dollar hit commodity prices.

U.S. stocks slid 2 percent on Thursday after new applications for jobless insurance rose unexpectedly, and basic materials shares sank as a rising U.S. dollar hurt commodity prices

Wall Street was set to drop nearly 1 percent at the open on Thursday after new applications for jobless insurance rose unexpectedly, adding to worries over sovereign debt in some euro zone countries that kept investors away from risky investments, including equities.

Wal-Mart Stores Inc is cutting 300 jobs at its headquarters in northwest Arkansas as Chief Executive Mike Duke scours the company for ways to cut costs and make the world's biggest retailer more efficient.

Wal-Mart Stores Inc is cutting 300 jobs at its headquarters in northwest Arkansas as the retailer looks to cut costs at the start of its new fiscal year.

U.S. stock index futures were mostly flat on Wednesday, following two days of strong market gains and ahead of key jobs and services sector data expected to show the U.S. economy has continued to improve.

Kraft Foods is set to receive enough acceptances from Cadbury shareholders to seal its 11.7 billion pounds ($18.6 billion) takeover by around 1700 GMT (12 noon EST) Tuesday and start the tough integration of Cadbury's 45,000 worldwide employees.

President Barack Obama on Friday proposed a $5,000 tax credit per new employee in 2010 as well as tax break for salary increases.

Macy's Inc said it is cutting some store-level jobs and adding others as part of its efforts to standardize how it manages stores and staffing.

Borders Group Inc said on Thursday it is laying off about 10 percent of its corporate staff in an effort to contain costs as it contends with dwindling sales.

President Barack Obama's job-creation program could produce a short-term political boost, but it's unlikely to significantly stem job losses and reduce the unemployment rate anytime soon, according to economists.

U.S. President Barack Obama pushed job creation to the top of his agenda and vowed not to abandon his struggling healthcare overhaul after a political setback that raised doubts about his leadership.