Jobs Report Weaker Than Anticipated, Market Rallies

The August Jobs report came in weaker than expected Friday morning, showing that the United States created 142,000 jobs in August versus estimates of 225,000, while the jobless rate was in-line at 6.1 percent.

The labor-force participation declined to 62.8 percent, matching the lows of 2014 and approaching the lowest level since 1978.

S&P 500 futures rallied sharply after the release, moving from 1990 to 1995.50 on hopes that the weak jobs number will provide the Fed further reason to keep monetary policy at historically accommodative levels.