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Posts Tagged ‘losing streak’

September 4th, 2009

Jobless Rate Jumps to 9.7%

(Lee Siler) - Yesterday, the market broke a four-day losing streak, as Wall Street was waiting for this morning's jobs report. Despite much speculation, the Labor Department reported that unemployment rose to 9.7% compared to an estimate of 9.5%. However, the news wasn't all bad, as U.S. employers cut a fewer-than-expected 216,000 jobs. The hike in the unemployment rate came from revisions the Labor Department did for June and July.

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