By JEANNINE AVERSA, AP Economics Writer 10 minutes ago WASHINGTON - The nation's unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs, dashing the hopes of an influx of young people looking for summer work.Payroll cuts, however, weren't nearly as deep as the 72,000 economists were forecasting. And, job losses for both May and June were smaller than previously reported.
July's reductions marked the seventh straight month where employers eliminated jobs. So far, this year, the economy has lost a total of 463,00 jobs.
Read More
