Wall Street futures are popping on good news from the U.S. Labor Department, which is reporting that employers expanded their payrolls for the first time in eight months.

Meanwhile, the jobless rate held steady in September. This has been the weakest link in the so-called jobless recovery, and it has given investors a big boost to start their day.

Labor says non-farm business payrolls rose by 57,000 last month, ending a seven-month streak in which nearly 500,000 jobs were cut. The unemployment rate came in at 6.1%, the same as August’s rate.

U.S. employers added jobs in all but a few major sectors. The manufacturing industry cut 29,000 jobs, the smallest number in more than a year. But the service-producing industry added 74,000 jobs, the largest increase since January.

Here at home concern over Ontario election results is minor on Bay Street. While the province’s next premier may not be Bay Street’s traditional ally, economists agree that Liberal Dalton McGuinty won’t hurts the province’s economy even if he makes good on his campaign promise to roll back corporate tax cuts.

Meanwhile in Europe, London’s FTSE 100 stock index has gained 23.20, or 0.6%, to 4,232.30. In Frankfurt, the DAX is up 29.67, or 0.9%, to 3,306.3. Trading is light due to a public holiday in Germany. In Paris, the CAC40 index has added 41.57, or 1.3%, to 3234.51.

The Nikkei 225 Stock Average ended the week up 115.76 points, or 1.09%, at 10,709.29 points.

In Hong Kong shares ended on a 16-month high. The Hang Seng Index rose 62.60 points, or 0.5%, to 11,608.72, its highest close since May of last year.

Investors took their lead from gains on Wall Street on Thursday, where the Dow Jones industrial average closed up 18.60, or 0.2%, to, 9487.80, while the Nasdaq composite index rose 3.97, or 0.2%, to 1836.22. .

The S&P/TSX composite index rose 31.75 points to finish at 7,541.42.

In earnings news, ATI Technologies Inc. has reported a 71% jump in quarterly revenue and a profit that beat analyst expectations.

The chipmaker said Friday that revenue totalled $380.7 million in its fourth quarter ended Aug. 31.

This was up from $222.9 million in the year-ago period, and from $355.7 million in the immediate preceding quarter.

Net income was $22.3 million, or 9¢ per share, compared with a year-earlier loss of $34.6 million, or 15¢ per share.