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U.S. economy sheds fewer jobs than expected

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posted on Aug, 7 2009 @ 07:49 AM
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WASHINGTON (Reuters) - U.S. employers cut 247,000 jobs in July, far less than expected and the least in any month since last August, according to a government report on Friday that provided the clearest evidence yet that the economy was turning around.

With fewer workers being laid off, the unemployment rate eased to 9.4 percent in July from 9.5 percent the prior month, the Labor Department said, the first time the jobless rate had fallen since April 2008.


9.4% July unemployment rate

So now the unemployment rate has dropped to 9.4% from 9.5% last month. Well that is if you can figure out how losing 247,000 jobs will cause the unemployment rate to actually decrease.

Hrmm, is it starting to become clear what is going on? Maybe be?




posted on Aug, 7 2009 @ 05:39 PM
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They say this every month. We always expect to lose more than we do and thats how they turn bad news into good news. It doesn't matter what the number is because its less than we expected. The weakminded will believe anything.



 
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