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Jobs Cuts Unexpectedly Accelerate

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"Employers eliminated more jobs than expected last month as the unemployment rate climbed to 9.8%," the Wall Street Journal reported. Nonfarm payrolls declined by 263,000 in September, the Labor Department said Friday, noting that the largest job losses were in construction, manufacturing, retail trade and government. Economists surveyed by Dow Jones Newswires survey had expected a 175,000 decrease.