Milosevic concedes as Kostunica gains power in Yugoslavia
Slobodan Milosevic conceded defeat in Yugoslavia’s presidential race amid outraged protests that shut parliament. Vojislav Kostunica, backed by Russia, was named election winner as the army pledged to obey the new authority and celebrations erupted in Belgrade.
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Unemployment hits 3 decade low of 3.9 percent in September
The Labor Department reports the unemployment rate fell to 3.9 percent in September, a three decade low, with Black unemployment dropping to 7.0 percent. Total employment rose by 252,000, led by service industries while manufacturing declined due to strikes and energy costs. Average hourly earnings rose 0.2 percent to $13.83.
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