U.S. stocks fell, with equities posting their biggest weekly decline since March, as investors looked toward to a weekend referendum in Greece after jobs data reflected a more moderate pace of economic growth.
The Standard & Poor’s 500 Index retreated 0.1 percent to 2,076.45 at 4 p.m. in New York, and marked a second consecutive weekly slide. The U.S. market is closed Friday for a holiday.
A Labor Department report Thursday showed the addition of 223,000 jobs in June followed a 254,000 increase in the prior month that was less than previously estimated. The jobless rate fell to a seven-year low of 5.3 percent as more people left the labor force. Average hourly earnings at private employers held at $24.95.
The economy has just completed its sixth year of expansion since the recession ended in June 2009. While the job market has rebounded, faster wage growth has been slow to follow suit. The participation rate, which indicates the share of the working-age people in the labor force, decreased to 62.6 percent, the lowest since October 1977, from 62.9 percent.
Source : Bloomberg