U.S. employers added 117,000 thousand jobs last month and the unemployment rate fell slightly from 9.2% to 9.1%, a day after the Dow fell 513 points in the worst sell-off since 2008.
The modest improvement in the jobless rate caused stocks to rise at the opening bell, but the rally lasted less than half an hour, amidst persistent concerns about economic policy decisions in the U.S. and Europe.
- The Economist: Good news, but is it good enough?
- Greg Ip, U.S. economics editor for The Economist magazine
This segment aired on August 5, 2011.