Jobs Report Slightly Better Than Expected

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A businessman looks at an electric quotation board flashing the stock prices at a window of a security company in central Tokyo on August 5, 2011. Tokyo shares plunged 395.09 points or 4.09 percent.
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The U.S. economy added 117,000 jobs in July, lowering the unemployment rate to 9.1 percent. The new figures from the Bureau of Labor Statistics bring a flicker of optimism to the markets after the worst day on Wall Street in three years. The European debt crisis conflated with fears the U.S. may be entering another recession has lead to a violent investor sell off around the world. Asian markets all closed down around 4 percent, and U.S. futures have been volatile this morning. Louise Story, Wall Street and finance reporter for The New York Times, has the latest.