The US unemployment rate climbed to US unemployment rate surges to 5.5% ...
US productivity beats forecasts ... 5.7% in July official figures show, its highest in more than four years.

Firms cut workers for a seventh month in a row, but the losses were fewer than analysts had been expecting.

The economy lost 51,000 non-farm payrolls the Labor Department said, the same as the newly revised figure for June, when unemployment was at 5.5%.

Economists had been expecting about 75,000 jobs to go - which reinforced fears of recession.

US companies have been reluctant to add staff amid higher oil and food prices, and slowing economic growth.

The only major sectors showing job creation were were government, hospitality, education and health services.

About 22,000 jobs went in the construction sector while factories cut 35,000 jobs.

(BBC)

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