Unemployment fell 0.1% to 9.4% in July, but businesses continued to cut positions, shedding 247,000 non-farm jobs, the Department of Labor reported today.

The economy has lost 7.4 million jobs since the current recession started in December 2007.

The number of persons unemployed in June was 14.5 million, compared to 14.7 million in June and 14.5 million in May.

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