U.S. stocks finished lower Friday, as investors hoped to see signs of an improving job market, even though the government reported that slightly fewer-than-expected jobs were added in December. In U.S. economic news, the unemployment rate fell to 9.4 percent in December, its lowest level in 19 months, as the economy created fewer jobs than expected, the government said. The Labor Department reported that employers added 103,000 jobs last month, rising from 71,000 in November but lower than economists' expectations for 150,000 new jobs. Following the jobs report, Federal Reserve (Fed) Chairman Ben Bernanke told the Senate Budget Committee there is increased evidence that a self-sustaining recovery may be underway. He added that the pace of the recovery will be “moderately stronger in 2011 than it was in 2010.” Meanwhile, a report from the Fed showed consumers increased their debt for a second consecutive month in November. Consumer credit increased $1.35 billion during the month although economists estimated a decline in total borrowing of $2.5 billion after an increase of $7.0 billion in October. --MORE
