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![Market analysts believe that the negative jobs report will push the Fed's rate hike to March 2016 [Xinhua]](http://thebricspost.com/wp-content/uploads/2015/10/246041636_8-e1443826800664.jpg)
Market analysts believe that the negative jobs report will push the Fed’s rate hike to March 2016 [Xinhua]
On Thursday the Labor Department released statistics showing that the US economy added 142,000 jobs in September. This was far below market forecasts of at least 200,000 added jobs.
Further reversing positive sentiment that the US economy was solid enough to prompt the Federal Reserve to raise interest rates, the Labor Department also revised downward its job data for July and August.
The number of created jobs in the economy for August were revised from 173,000 to 136,000.
This discrepancy and the fact that the global economic slowdown may now be felt in US markets has scaled back some expectations among market analysts that the earliest possible date for a Fed rate hike will be March, and not October, as some had previously forecast.
US stocks opened Friday in the red immediately after the Labor Department jobs report.
But they swung around by closing on a weaker dollar and a delayed speculation on the Fed rate hike.
The Dow Jones closed up 1.2 per cent, while the S&P 500 closed up 1.4 per cent. The Nasdaq prevailed throughout the day and closed 1.7 per cent up.
The BRICS Post with inputs from Agencies
