Markets surge as US unemployment hits three-year low

Equity markets are spiking after US non-farm payrolls data revealed the economy added 243,000 jobs last month - far above consensus expectations.

The Bureau of Labour Statistics said the unemployment rate fell from 8.5% to 8.3% in January, against expectations of no change. The rate is the lowest seen since February 2009. The 243,000 jobs added - the highest number since April 2009 - was much hirer than consensus expectations of between 130,000 and 150,000. The change in total nonfarm payroll employment for November was revised from +100,000 to +157,000, and the change for December was revised from +200,000 to +203,000. “Job growth was widespread in the private sector, with large employment gains in professional and business...