U.S. Unemployment Rate Down To 9.4 Percent The Labor Department reports layoffs are slowing, as employers cut just 247,000 jobs in July. That's the fewest in a year and brings the nation's unemployment rate down to 9.4 percent.
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U.S. Unemployment Rate Down To 9.4 Percent

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U.S. Unemployment Rate Down To 9.4 Percent

U.S. Unemployment Rate Down To 9.4 Percent

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LINDA WERTHEIMER, host:

NPR's business news starts with a drop in unemployment.

(Soundbite of music)

WERTHEIMER: We're ending the week with some good news about the economy. Today the government said that employers slashed about 250,000 jobs last month. That may not sound good, but it's far fewer job losses than in previous months. It means the tide of pink slips may be starting to ebb and the economy may be turning around.

Also in July, the unemployment rate went down, from 9.5 percent to now 9.4 percent. It's the first drop in unemployment in 15 months.

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