Unemployment drops; 117,000 jobs added

(WOIO) - Wall Street is hoping for a rebound after the Labor Department announced the unemployment rate dipped in July to 9.1%.

That's welcome news after the Dow suffered a 513 point plunge, its biggest drop in nearly three years.

The U.S. economy added 117,000 jobs last month, double the hiring in June.

Officials from the Federal Reserve plan to meet next Tuesday to review the latest unemployment report. But they're not expected to announce any new measures to boost job creation or the economy.

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