Futures moving higher ahead of January jobs report

US stock futures rise with the Labor Department expected to report steady hiring continues

Associated Press
Futures moving higher on strong jobs numbers
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In this Tuesday, Jan. 15, 2012, photo, Norma Urbario, left, and America Rodriguez stand in line, holding their resumes, during the job fair that the Miami Marlins hosted at Marlins Park in Miami. The number of Americans seeking unemployment aid jumped last week, though the increase mostly reflected difficulties the government has seasonally adjusting its numbers. Applications are still at levels signaling modest hiring. (AP Photo/J Pat Carter)

NEW YORK (AP) -- Stock futures are heading higher before the release of the January employment report, which is expected to show consistent job growth.

Dow Jones industrial futures are up 49 points to 13,846. The broader S&P futures have added 3.5 points to 1,496.80. Nasdaq futures are up 6.25 points to 2,731.25.

While economists believe the economy added another 155,000 jobs last month, it's still not enough to put a dent in the nation's stubborn unemployment rate, which is hovering at 7.8 percent.

And for Americans that are getting a paycheck, they are getting a larger slice removed for Social Security taxes this year.

However, after the Commerce Department said on Wednesday that the economy shrank during the final quarter of 2012, any bump in hiring would be a boost.

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