Unemployment Rate Slips to 9.1 Percent

The U.S. unemployment rate budged slightly in July, edging down to 9.1 percent, according to the government job report released Friday morning. Overall, 117,000 jobs were added, significantly higher than expectations, which ranged around 75,000. Reports for May and June were also revised; June’s figures, initially set at 18,000, surged upward to 46,000. The better-than-expected news initially sent Wall Street ticking upward, with a 150-point jump upon the opening bell, before sentiment shifted and those gains were erased.