September 4, 2009 10:32 AM

Jobless rate hits 26-year high, even as job losses slow

The still-rising unemployment rate — up from 9.4 percent in July — will continue to dampen consumer confidence and business hiring, experts said. Supporters of the government's economic stimulus efforts argued that Friday's numbers underscore how the $787 billion package that passed earlier this year is starting to be felt across the economy.

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