Unemployment Down 1%


Posted: 8/7/2009
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News Alert
from The Wall Street Journal
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Sponsored by NASDAQ OMX
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U.S. job losses tapered off last month while the unemployment rate surprisingly fell. Nonfarm payrolls declined by 247,000 in July, the Labor Department said, the smallest drop since last August and below the 275,000 decline expected by economists.

The unemployment rate, calculated using a survey of households as opposed to companies, slid 0.1 percentage point to 9.4%.

Payroll cuts slowed in a variety of industries including manufacturing and many services while the automobile sector posted a rare increase, as anticipated seasonal layoffs failed to materialize last month.

http://online.wsj.com/article/SB124964812540714249.html#mod=djemalertNEWS