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Nonfarm Jobs Fell 44,000 In July
1Economists expected payrolls to climb 10,000, and May and June data were revised to show steeper declines. The unemployment rate fell to 6.2% from June's nine-year high of 6.4%. But that was due to people exiting the labor force. Factories cut 71,000 jobs, but temp jobs rose 41,900. Hours worked kept falling. The data suggest rapid productivity growth. More on this page, A2
Manufacturing Grew A Bit In July
2The national ISM index rose 2 points to 51.8, rising above the boom-bust 50 line after four months below it. That met official estimates, but many economists hoped for more after Thursday's strong Chicago factory report. Orders and output showed stronger growth. But the jobs index ticked down, reflecting the unrelenting decline in factory jobs. More on this page, A2
Stocks Head Lower In Day, Week
3 The Dow industrials snapped a four-week winning streak with a 1.4% weekly loss. The S&P 500 fell 1.9%, closing below its 50-day average for the first time since mid-March. On Friday, the Dow lost 0.9%, the S&P 500 1% and the Nasdaq 1.1%. Internets, medicals and financials led the drop. Volume declined. More on this page, B2
Treasuries Avoid Near-Collapse