Jobless rate highest in 4 years, payrolls drop
WASHINGTON (Reuters) - The U.S. unemployment rate hit its highest in four years during July as employers cut jobs for a seventh straight month, though less severely than predicted, a Labor Department report showed on Friday. The rising toll of job losses and plunging new-car sales in July fueled worry that a recession may be unavoidable and helped drive stock prices lower again. The jobless rate c
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