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U.S. Unemployment Rate Down To 9.4 Percent

LINDA WERTHEIMER, host:

NPR's business news starts with a drop in unemployment.

(Soundbite of music)

WERTHEIMER: We're ending the week with some good news about the economy. Today the government said that employers slashed about 250,000 jobs last month. That may not sound good, but it's far fewer job losses than in previous months. It means the tide of pink slips may be starting to ebb and the economy may be turning around.

Also in July, the unemployment rate went down, from 9.5 percent to now 9.4 percent. It's the first drop in unemployment in 15 months. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.