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Unemployment rate climbs as manufacturing leads losses
The August unemployment rate rose to 4.9 percent, with manufacturing payroll losses surpassing 1 million for the year. The Labor Department reported 113,000 net jobs lost, marking the steepest monthly decline in six years and fueling expectations of further Federal Reserve rate cuts to stimulate the economy.
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Washington
Federal Reserve
Labor Department
Nomic
Argus Research Co
Fed
Bush
White House
Senate
Tom Daschle
D-S.c