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Unemployment rate rises as 51,000 jobs were lost in July.

The Department of Labor released its employment figures this morning, finding that the companies eliminated 51,000 jobs in July. The unemployment rate also rose to 5.7 percent, from 5.5 percent in June, the highest rate since March 2004. This is the seventh straight month of job losses, raising the total number of jobs lost since the beginning of this year to 463,000.

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