Precious metals, copper rise on jobs report; crude slips

The U.S. Department of Labor released the latest figures for employment in September - and the picture's not pretty, though it could have been worse. According to the Bureau of Labor Statistics, employment in the U.S. is essentially stagnant: While the private sector managed to eke out a gain of 64,000, that progress was overshadowed by the continuing weakness of the public sector.The U.S. Department of Labor released the latest figures for employment in September - and the picture's not pretty, though it could have been worse. According to the Bureau of Labor Statistics, employment in the U.S. is essentially stagnant: While the private sector managed to eke out a gain of 64,000, that progress was overshadowed by the continuing weakness of the public sector.

Between cutbacks at the local level and the winding down of temporary 2010 Census jobs, the public sector gave up 159,000 jobs, leaving the country with a net monthly loss of 95,000 positions.Between cutbacks at the local level and the winding down of temporary 2010 Census jobs, the public sector gave up 159,000 jobs, leaving the country with a net monthly loss of 95,000 positions.

U-3 unemployment - the most commonly-cited, "headline figure - was unchanged at 9.6 percent, or 14.8 million unemployed workers. The higher U-6 figure -which measures labor underutilization as the sum of unemployed persons, those "marginally attached" to the labor force and those working part time who would like to work full time - rose 0.4 to 17.1 percent in September.U-3 unemployment - the most commonly-cited, "headline figure - was unchanged at 9.6 percent, or 14.8 million unemployed workers. The higher U-6 figure -which measures labor underutilization as the sum of unemployed persons, those "marginally attached" to the labor force and those working part time who would like to work full time - rose 0.4 to 17.1 percent in September.

The news sent pessimism through the markets - but some commodities gained on the news. While equities slid, gold futures climbed $7.80 to trade at $1,342 per troy ounce at 8:45 a.m. EST, while silver futures rose nearly 1 percent to $22.79 per troy ounce.The news sent pessimism through the markets - but some commodities gained on the news. While equities slid, gold futures climbed $7.80 to trade at $1,342 per troy ounce at 8:45 a.m. EST, while silver futures rose nearly 1 percent to $22.79 per troy ounce.

Copper futures also gained, rising 1.13 percent to trade at $3.721 per pound.Copper futures also gained, rising 1.13 percent to trade at $3.721 per pound.

Crude slipped in the weaker economic picture; WTI light, sweet crude oil futures dropped 1.17 percent to $80.72 per barrel.Crude slipped in the weaker economic picture; WTI light, sweet crude oil futures dropped 1.17 percent to $80.72 per barrel.

The dollar rose against a number of currencies, including the Canadian dollar, the Brazilian real and the euro. It fell against the British pound, the Japanese yen and the Chinese renminbi.The dollar rose against a number of currencies, including the Canadian dollar, the Brazilian real and the euro. It fell against the British pound, the Japanese yen and the Chinese renminbi.