Unemployment Edges Up Despite New Jobs

By JEANNINE AVERSA – 3 days ago

WASHINGTON (AP) — Fears that the country could slide into a recession eased in September as employers created the most jobs in four months and workers' wages grew solidly. The unemployment rate crept up to 4.7 percent, the highest in over a year but still low by historical standards.

Wall Street breathed a sigh of relief. The Dow Jones industrial average closed up 91.70 points. The Standard & Poor's 500 index, the measure most closely followed by market watchers, reached a new closing high of 1,557.59.