U.S. Economy Lost 247,000 Jobs in July

The pace of job losses in the United States slowed more than
expected in July and the unemployment rate dropped for the
first time since April 2008, the latest indication that
recession was easing. The economy lost 247,000 in July, after
a 443,000 loss in June, the Labor Department said. The
jobless rate dropped to 9.4 percent from 9.5 percent