The Labor Department reported Friday, 243,000 non-farm jobs created in January, the highest figure since April, and the unemployment rate down to 8 , 3%, its lowest level since February 2009.

Since August, the unemployment rate fell 0.8 percentage point.

Economists polled by Reuters on average expected 150,000 new jobs and an unemployment rate of 8.5%, as in December. 

The number of jobs created in December was revised up slightly to 203,000 against 200,000 announced last month, and November was revised in 157,000 net increase to 100,000 against.

The private sector has provided in January all new jobs with 257,000 positions created, a highest level since April, while the public sector by removing 14,000.

Moreover, the average hourly wage increased by four hundred, which should help to support consumption.

According to the report of the Department of Labor, the expected slowdown in U.S. economic growth in the first quarter has not yet had an effect on hiring decisions of firms. 

"It's a good surprise, and the first digit of the job that is really good since the recession," said Philippe Weber, studies and strategies in CPR AM.

These figures significantly better than expected gave a boost to equity markets in Europe and the dollar.

The Dow Jones opened up 0.55%, the S & P500 by 0.66% and the Nasdaq 1%.

"This is certainly a great support for the U.S. recovery and this suggests that the rebound is growing," said Brian Dolan, chief strategist at FOREX.com markets .. ……

WHAT IMPACT ON DECISIONS OF THE FED?

The Federal Reserve announced last week the probable continuation rates to near zero until at least late 2014, on behalf of a particular unemployment rate ; high unemployment. 

The Fed Chairman Ben Bernanke told to consider new measures to support the economy, but, faced with this recovery in the labor market, the leaders of The Fed may well turn back.

The U.S. central bank has already bought 2,300 billion in bonds to keep rates low and stimulate the economy.

The United States experienced a rapid growth year on year over the last three months of 2011 to 2.8%, against 1.8% last quarter. However, the recovery of stocks of companies accounted for two thirds of this increase, which should result in slower growth in the first quarter of 2012.

The fiscal crisis raging in Europe, where several states are already in recession, is expected to affect U.S. exports and thus hamper growth.

However, there are still some signs of strength in the U.S. economy, as auto sales strong in January, a manufacturing activity, which reached a high of seven months or even declining four weeks moving average of jobless claims.

However, there are still 19.3 million Americans unemployed or underemployed.

Remain reasons to be cautious. The unemployment rate did drop for the fifth consecutive month, but partly because of the abandonment of job searches by some Americans, tired of not finding work.

An index, which includes people who have stopped job searches and those working part time but would like to work more, stood at 15.1% in January against 15.2% in de ; December.

The CSF must publish a list of 29 banks that need to raise capital and be subject to more stringent rules because of the risk they pose to the entire financial system because of their size and complexity.

The Italian government said Wednesday in a statement the convening of an extraordinary cabinet meeting Wednesday to 20h to adopt anti-crisis measures before the G20 summit on Thursday. "The cabinet is convened today at 20h," said the presidency in a news brief in giving details of the proposed measures.

The Minister of Transport and Infrastructure, Matteoli, said the Cabinet would adopt a decree containing 'urgent measures' among those promised last week by the prime minister Silvio Berlusconi to its European partners.Berlusconi insists on arriving Thursday at the G20 in Cannes with a first set of measures to boost growth and reduce the huge debt of 1.900 billion euro (about 120% of GDP), to bring it to the immune to the contagion of debt crisis.

According to Italian media, the measures envisaged by the Government on such disposals of public assets, reforming the labor market, a recovery plan South disadvantage, infrastructure, liberalization of professions or simplified administration. But other measures "shock" would not be excluded as a small wealth tax or a tax point of current accounts.

The turnover of the world's number one industry, owner of Louis Vuitton leather goods, Hennessy cognac and Christian Dior perfumes, rose 17.6% in the third quarter to 6.01 billion euros, higher than the consensus of analysts polled by Reuters (5.8 billion).

Organic growth for its part maintained at 15%, as in the first half, while analysts expected a slowdown to 12.5% ​​and the comparison base last year was already high (14%) .

"The numbers are good, they show that the industry does not undergo the expected slowdown," said one analyst who requested anonymity.

After last week Burberry, LVMH confirms the strength of the luxury sector the slowdown in mature economies, driven by tourism flows in Europe and an application that does not weaken in the high-end department stores in the United States.

At the Paris Stock Exchange, after opening slightly down, the title LVMH sells 1.8% to 111.40 euros by 10:05, in a market down 1.7%.

Having been overtaken by fears of recession and slowdown in the Chinese engine, the values ​​of luxury have suffered a significant stock market correction in late September, before regaining lost ground, with the general recovery of the markets.

To date, the limit value share of 7.8% since the beginning of the year, compared with a decrease of 15% for its rival Swiss Richemont, but increases of 12.3% for Burberry or 16 % for Tiffany.

DECELERATION IN WINES AND SPIRITS

On the sidelines of Paris Fashion Week ready-to-wear at the beginning of the month, industry leaders have also said they see no signs of slowing demand in the third quarter.

Still, many analysts expect a slowdown in the global luxury goods market in 2012 and have already revised down their forecasts for growth for luxury groups for next year.

"Sales growth continues to be strong in Asia, Europe and the United States, while Japan sees a return to growth," said LVMH in a statement.

With these figures, the group's "confidence" for the full year 2011, without elaborating on its expectations for sales season, a crucial period for the sector.

He also indicated it will pursue a policy of targeted geographic expansion "in the most promising markets."

The fashion and leather goods division saw its organic growth accelerated slightly to 15% over nine months after 14% in the first half, driven by Louis Vuitton nugget.The latter mark, the main profit center of the group, could have exceeded 15% growth estimated by some analysts (LVMH never disclose the figures of Louis Vuitton).

The market is waiting for clarification during a conference call scheduled for 3:00 p.m. on any price increases that could be spent by the end of the year in the leather.

In contrast, sales of wines and spirits have had their organic growth decelerated to 11% over nine months and investors await guidance on inventory levels of distributors.

Sales of selective distribution (DFS, Sephora) have accelerated the pace with organic growth of 19%, while rate was slightly compacted in perfumes and cosmetics at 10%. Recent statements by Clarins to leave Reuters anticipate difficult year 2012 in Europe.

In watches and jewelry, which now include Italian Bulgari, growth remains very strong, like the Swiss watch exports to 26%.

The numbers of PPR, which owns Gucci, are expected on October 26 and those of Hermes (which LVMH owns 21.4%) on November 4.

Brussels wants farmers to "go green". The European Commission proposed on Wednesday to condition part of the aid to respect for the environment, and to the Common Agricultural Policy (CAP) fairer by capping subsidies, despite the reluctance of the industry. "A redefinition of the CAP is necessary," the MEPs tried before the Commissioner of Agriculture, the Romanian Ciolos, presenting the details of its proposals to reform the system of EU agricultural subsidies from 2014.

He has proposed to link some of the aid paid to some 12 million European operations "to a few simple agricultural practices whose effects are well established" crop diversification, maintenance of permanent pasture, and conservation of biodiversity reservoirs or landscape elements of at least 7% of arable land. The reform also aims to shift to a "sustainable production practices," while Europe has "for years" led the farmers "on the way to a stress-free productivity," noted Ciolos.

Another key measure for the capping of aid. These become progressively reduced from 150,000 euros per year per firm and will not exceed 300,000 euros.Germany, or the UK – where farms reap the crown of England every year hundreds of thousands of dollars – are opposed to the cap, brandishing the risk of fragmentation of their large holdings. These are always more numerous in Europe in seven years, the number of farms decreased by 20% for a reduction of only 2% of the agricultural area, is the statistical office Eurostat.

France is the first bénéficière envelopes States

Criticized by the European Court of Auditors to have paid aids golf clubs or airports, the CAP will also be reserved for the future to "active farmers".Calling for a change of "paradigm", Ciolos also called for a more equitable CAP with the introduction of a single payment per hectare for each State and each region, which should balance out subsidies to benefit of extensive agriculture.

However, it is still far from a fair rebalancing envelopes allocated to each state. France continues to be the first beneficiary and lose relatively little, while the countries of Eastern Europe continue to receive bonuses per hectare well below the European average. In Brussels, a Baltic hundred farmers have agreed to meet Wednesday to protest against this compromise deemed disadvantageous to farmers Baltic. "Politics, more at European level is the art of the possible equilibria," agreed Ciolos."The most important is to stimulate a movement in the right direction," he said, promising to continue this trend toward more balance beyond 2020.

The proposals of the Commissioner Ciolos will now be subject to approval by MEPs and the 27 Member States, and negotiations promise to be difficult. For the main organization of farmers in Europe, Copa-Cogeca, the principle of ecological fallows is "illogical, while global food demand is expected to increase 70% by 2050." Greening is also criticized by the German Green Häusling Martin, for whom he does not go far enough, or the French Socialist Stéphane Le Foll, who lampooned the "weaknesses" of agri-environmental measures proposed, such as fallow "too rigid" .

Note of Italy fell from AA-to A + and that of Spain AA + to AA-.The prospect of the two countries is negative, suggesting that further downgrades are possible.

Italy and Spain are directly affected by the crisis in the euro area in that they depend on the European Central Bank (ECB) to place their bonds and avoiding the yields demanded reach unmanageable proportions.

"A comprehensive and credible solution to the crisis in the euro area is politically and technically difficult and will take time to implement," said Fitch.

Italy has recently been downgraded by Moody's and Standard & Poor's.Market sentiment towards the country was affected by the hesitant reaction of the government, initially, to higher yields.

The euro fell to the announcement of downgrades, as Wall Street.Analysts say, however, that the decision on Italy was entirely predictable.

"The reasons for Fitch are not so different from the other two agencies, I do not think the markets will react a lot," said Alessandro Tentori (BNP Paribas).

Paolo Pizzoli, an analyst at ING, sees the decision of Fitch additional pressure on the Italian government to adopt structural reforms that could boost growth, reforms that are missing in the recent austerity plan intended to balance the budget in 2013.

The Berlusconi government intends to introduce such initiatives in the month but the ruling coalition is so weakened and divided as few analysts see it join forces to give carte blanche.

In Spain, the government reduced the deficit with a series of austerity measures, but most of the country's debt is regional and autonomous regions are still practicing their own cuts.

"We respect that decision but we disagree," said a spokesman for the Spanish Ministry of Economy.

The Italian Foreign Minister Franco Frattini was much drier, arguing that "markets have little to do with Fitch, Moody's and company."

Fitch also announced Friday it was maintaining Portugal under review with negative implications, it intends to resolve status in the fourth quarter.Portugal is rated BBB-by the agency.

Regarding the latter, the European Commission said it will send a team of experts to assist the authorities to redirect funds from the EU to the economic reforms agreed with the troika (EU, International Monetary Fund, Central Bank European).

The crisis of sovereign debt continues to weigh on European shares and heckle banking stocks, particularly the French – the most exposed to Italy and Greece, two countries that capture these days the attention of market.

The CAC 40 index lost 1.62% to 2935.82 points, after rising 1.5% Tuesday in closing.

London has yielded 1.4%, 2.47% Frankfurt, Milan 1.65%.The index Pan-European Euro Stoxx 50 lost 1.96%.

European banks, including the French, have been buffeted in the red and the green at the mercy of rumors, including whether or not to recapitalize, and news about the crisis in the area.

The Stoxx European banks index ended down 1.6%.

In Paris, BNP Paribas has finally dropped 1.85% after gaining over 2% in the afternoon.Societe Generale, having also made the yoyo, ended in the red (-1.28%) as well as Credit Agricole (-2.38%).

Many professionals emphasize the link of "inbreeding" among European banks and the debt of the euro area and say that as governments will not put out a general settlement plan, financial stocks continue to suffer.

"So things are moving in all directions according to rumors," said a vendor noting the "fragility" of the market.

In this context of flight to quality, Germany awarded for the first time in its history of Bund 10 years at an average rate below 2%.

The performance of the Bund, part of the euro area, the market remained unchanged at 1.77% and that of the French OAT maturing as well, to 2.62%.

The euro gained ground and was trading late in the day around 1.3723 against the dollar around 1.3675 this morning.

In Paris, Alcatel-Lucent (0.85%) was the only value of the CAC 40 to finish in the green while cyclical as PSA (-5.70%) and Vallourec (-4.61%) suffered the largest declines in the index.

"We can say that we are, with respect to the positions of French banks that have positions in Greece, that one is over 90% of the agreement, which is considerable," he said to the press.

Baroin, speaking after a meeting of EU finance ministers in Wroclaw, Poland, also indicated that there were still "some time" to raise the number of participating banks European awaited by Athens at least 90%.

Several sources had earlier told Reuters that participation stood at present to around 75% of existing claims.

European markets also suffer from renewed concerns about economic growth after the announcement of the first contraction since September 2009 in manufacturing activity in the euro area in August.

At 1:12 p.m., the CAC 40 index fell by 0.94% to 3226.16 points, after opening up 0.5%.Between 19 and 31 August, the benchmark index of the Paris gained almost 8%.

Other major European markets, London drops 0.43%, 1.65% Frankfurt and Milan 1.02%. The pan-European Euro Stoxx 50 index yields 1.05%.

"We see now a risk too high to buy, even if prices are low on action," said analyst Valerie Gastaldy Day By Day which sees two possible solutions to this situation.

FIGURES OF THE USE AS CATALYST US

"Let bleed the market one last time and puts the record straight: all asset classes could find correlations normal and then we could build up a good few weeks.Either we are entering a phase of very high dispersion, with a sector rotation and intra-sectoral difficult to anticipate, "she says.

The monthly figures of employment in the United States, which will be announced Friday, could serve as a catalyst, analysts said.

"If the world's largest economy falters, it will have important consequences for the world because U.S. demand may decrease," says Saxo Bank in a note.

"If the figures show that a recession is less and less feasible, then it is likely that the rebound that began this week to continue over an extended period (…) In addition, speculation on future measures the Fed is going well, "added the facility.

Such measures could ultimately weigh on the dollar, many analysts point out, but for now he earns 0.67% against the euro, one euro was trading against 1.4274 dollars.

Illustration of investor caution, the yield on German government bonds to 10 years is down to around 2.17% against 2.22% over the closing Wednesday.