Stocks fall at open after poor jobs report

NEW YORK - Stocks are falling in the opening moments of trading after a new report showed more job losses than expected in June.

The U.S. report Thursday follows a similar weak jobs report from overseas.
The Labor Department's unemployment figures showed the jobless rate rose to 9.5 percent last month from 9.4 percent in May.

Recession-weary employers cut a larger-than-expected 467,000 jobs in June, suggesting that the economy's road to recovery will be bumpy.

A report in Europe showed unemployment in the 16 countries that use the euro rose to a 10-year high in May.

The Dow Jones industrial average is down 138 at 8,366. The Standard & Poor's 500 index is down 15 at 917. The Nasdaq composite index is down 34 at 1,812.

http://accesswdun.com/article/2009/7/221538