U.S. Unemployment Rate Jumps To Four Year High Of 5.7%

Nonfarm payrolls fell for the seventh straight month in July while the nation’s unemployment jumped to 5.7%.

Since the beginning of the year 463,000 jobs have been lost, the strongest signal that the economy is in a recession. The unemployment rate has risen 0.7% in the past three months, the fastest increase in 26 years.