Scoreboard: Jobs drag

The local market looks set to come under pressure after Wall Street fell despite solid payrolls data.

Well the data was good, at least. US payrolls came in just a little bit weaker on Friday night at 192,000 instead of 200,000. This is still a strong result, a great result following a 197,000 lift the month prior -- and it adds to the case the US economy is rebounding following a weather induced lull. Some policy makers, like Christine Lagarde at the International Monetary Fund, are still trying to talk the numbers down as not good enough or not strong enough, but these comments are absurd and investors should ignore them. Otherwise, the unemployment rate was steady at 6.7 per cent.

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