Wall Street stock futures were higher Friday after a government report showed a smaller-than-expected drop in nonfarm payrolls in August.

Nonfarm payrolls declined 216,000 in August, the U.S. Labor Department said, smaller than the job losses economists expected. Revised data showed more job losses than previously reported in earlier months.

The U.S. unemployment rate, calculated using a survey of households as opposed to companies, grew to 9.7%, the highest level since June 1983 when the rate was 10.1%.

Here at home, Statistics Canada reported the economy added 27,100 jobs during August. Economists had expected that about 20,000 jobs would be lost.

The Canadian dollar jumped 0.77 of a cent to US91.41¢ following the report’s release.

Over the weekend, investors will monitor a meeting of finance ministers from the G20 industrial and developing nations for cues on the state of the economy. Officials will meet in London for talks expected to be dominated by questions about whether it is time to unwind efforts to shore up the economy.

In today’s commodities news, the October crude contract on the New York Mercantile Exchange gained 41¢ to US$68.37 a barrel.

The December bullion contract declined US$6.40 to US$991.30 after closing at a six-month high Wednesday.

Overseas, Japan’s Nikkei stock average fell 0.3 %, while Hong Kong’s Hang Seng index jumped 2.8 %.

In late morning trading, Britain’s FTSE 100 rose 1.14 %, Germany’s DAX index rose one %, and France’s CAC-40 added 0.68 %.

On Thursday, the Toronto Stock Exchange rallied, boosted by stronger-than-expected financial sector earnings reports and continued strength in materials stocks.

The S&P/TSX composite index surged 220.17 points, or 2.1%, to finish at 10,921.49.

Junior stocks on the TSX Venture Exchange also finished Thursday’s session higher. The S&P/TSX Venture composite index gained 30.62 points, or 2.6%, to 1,215.51.

In New York, U.S. stock market indices finished higher for the first in five sessions on Thursday, led by gains among financial stocks.

The Dow Jones industrial average gained 63.94 points, or 0.7%, to end at 9,344.61.

The S&P 500 index added 8.49 points, or 0.9%, to 1,003.24.

The Nasdaq composite index rose 16.13 points, or 0.8%, to 1,983.20.

IE