Better-than-expected payroll figures lift mood...

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Figures from the US Commerce Department show 117,000 jobs were created in America last month, better than either June or May.

Although the figure is still a long way from suggesting that the most important economy in the world is growing healthily, it was still better than economists' worst fears.

The unemployment rate dipped slightly to 9.1 per cent, though this is partly because some people stopped looking for work altogether and so fell out of the calculations.

The mild improvement may ease some investors' concerns after the Dow Jones industrial average plummeted more than 500 points on Thursday over concerns that the US may be entering another recession.

As the figures emerged shares in Europe and London regained some of their earlier losses.

US businesses added 154,000 jobs across many industries.

The public sector cut 37,000 jobs last month, although 23,000 of those were because of the shutdown of Minnesota's state government.

The US government also revised the previous two months' totals to show hiring wasn't as weak as first estimated. The economy added 53,000 jobs in May, up from an earlier estimate of 25,000, and 46,000 in June, up from 18,000.