Job Losses Slow, Unemployment Dips to 9.4%

By Kevin Spak,  Newser Staff
Posted Aug 7, 2009 7:55 AM CDT
In this Aug. 4, 2009 photo, job seekers participate at a job fair at the Vicksburg, Miss., Convention Center.   (AP Photo/The Clarion-Ledger, Barbara Gauntt)
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(Newser) – Job losses slowed more than expected last month, and unemployment fell from 9.5% to 9.4% in its first dip since April 2008, the Labor Department announced today, marking another strong positive sign for the economy. Payrolls fell by 247,000, a big improvement over the 443,000 lost in June. “We have in motion a turnaround in the labor market,” said one economist.