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Jobs report for July: at least it's not getting any worse




Traders work on the floor of the New York Stock Exchange before the opening bell on August 5, 2011 in New York City. Following a 500 point drop yesterday, markets were mixed in morning trading.
Traders work on the floor of the New York Stock Exchange before the opening bell on August 5, 2011 in New York City. Following a 500 point drop yesterday, markets were mixed in morning trading.
Mario Tama/Getty Images

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According to the federal government's jobs report, 117,000 jobs were added in July, bringing the unemployment rate down slightly, to 9.1 percent. In other words, just enough to hold steady. The bit of good news caused markets to briefly rally, but they may not hold steady after a slide Thursday that sunk the Dow to its lowest point since October 2008. Investors are concerned about European debt and slow U.S. growth, prompting at least one columnist at the New York Times to ask (again), are we headed for a double-dip recession? Roben Farzad of Bloomberg Businessweek joins us to break down the numbers.