Jobs report sends markets down

Unemployment rose to 9.5 percent, a 26-year high, as employers cut 467,000 positions in June. By STEPHEN BERNARD and IEVA M. AUGSTUMS Associated Press Minnesota business by the numbers See Minnesota's top earning companies, CEOs and non-profits NEW YORK - The stock market found little to celebrate heading into the holiday weekend. Major stock indexes fell more than 2.6 percent Thursday, pushing the Dow Jones industrials to their lowest level in six weeks, after the government said the unemployment rate hit a 26-year high and employers cut far more jobs than expected. The data were especially disappointing because they broke a trend of four straight months of improvement in job losses. The report -- one of the most closely watched gauges of the economy's health -- delivered the latest blow to the market's already waning... [read full story]                    

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