Stocks fall on jobs data
The Russell 2000 (NYSE: IWM) and the Dow Jones Industrial Average (INDU) are in negative territory following news of weaker-than-expected job creation in July.
At 10:33 a.m. ET the Russell 2000 had lost 7.86 points, or 1%, to 776.13. The Dow was down 94.13 points, or 0.70%, to 13,369.20.
Employers added just 92,000 new jobs in July, down from the 126,000 created in June, the U.S. Labor Department reported before the opening bell. Economists were forecasting non-farm payrolls to increase by 135,000
As a result, the unemployment rate moved up to 4.6%. Observers were expecting it to stay at 4.5%, the level it has held since April.
Government payrolls declined by 28,000, but the services industry added 104,000 jobs.
The average hourly wage for non-supervisory workers increased $0.06, or 0.3%, to $17.45 in July, from $17.39 in June. Workers in the utilities sector were highest paid, while those making a living in the leisure and hospitality industry brought home the smallest paychecks.
The following are the most actively traded company's with market capitalizations under $500 million:
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