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The Guardian - UK
The Guardian - UK
Business
Kathryn Hopkins

FTSE plunges after bad US jobs data

The FTSE 100 more than doubled its losses on the back of dire US jobless figures, which pushed the unemployment rate up to a 26-year-high.

Britain's leading index was down 73.13 points or 1.68% at 4267.58 at lunch time after the US Labor Department said that 467,000 people had lost their jobs in in June. Economists had expected a figure of 363,000. Nonfarm payrolls shrank by 322,000 in May.

The unemployment rate now stands at 9.5%, up from 9.4% in May.

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