Wintle: US unemployment data signals recovery

US labour market data released today failed to meet expectations but Neptune's head of US equities Felix Wintle says the figures point to economic recovery.

A total of 103,000 new jobs were created in the US last month, much lower than the 150,000 analysts predicted. However, the unemployment rate fell from 9.8% to 9.4%, the lowest level since May 2009. On Wednesday ADP announced a record-breaking 297,000 private jobs were created last month and this fuelled expectations of a strong report. The Dow Jones opened fairly flat following the release of the figures. At 15:00 the index was down 0.05% or 5.9 points to 11,691.41, after opening 0.08% up. Wintle says although the non-farm payroll data was worse than expected, the real key for ...