Saturday Feb 02, 201303:35 AM GMT
Dow Jones hits 14,000 for first time since 2007
Traders gather near the Bank of America post on the floor of the New York Stock Exchange. (file photo)
Traders gather near the Bank of America post on the floor of the New York Stock Exchange. (file photo)
Sat Feb 2, 2013 3:29AM
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The Dow Jones Industrial Average rose above 14,000 for the first time since 2007 as updates to employment figures in the United States showed more job growth than originally estimated.


Boosted by the release of figures from the US Bureau of Labor Statistics earlier in the day that were better than expected, the blue chip stock index hit 14,009.79 on Friday, a gain of 149.21 points or 1.08 percent.

The statistics office's most recent report had showed an increase of unemployment from 7.8 percent in December to 7.9 percent in January, but revised data for all of 2012 put net job growth at an average of 181,000 a month, up from a previous estimate of 153,000.

The statistics agency also reported 675,000 jobs were created in the private sector in the fourth quarter alone, making it the second best quarter since the recession ended in June 2009.

In January, the Dow Jones gained 5.8 percent, its greatest monthly jump since 1994.

Other US stock exchanges also saw gains on Friday, with the broader Standard & Poor's 500 Index gaining 1 percent to 1,512.95 and the technology-heavy Nasdaq Composite Index increasing 1.18 percent to 3,142.31.

GVN/HGL
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