Wall Street Slumps for Five Weeks Straight

Wall Street suffered its fifth straight week of stock market losses after an unexpected uptick in the jobless rate became the latest sign of a sputtering economic recovery. The Dow Jones Industrial Average sank 97 points Friday, or 0.79%, to close at 1,300. MSNBC.com reported the Dow hasn't suffered such a long losing streak since July 2004, though the index it is still up 5.2 percent for the year. After the Labor Department announced the unemployment rate rose to 9.1% last month, Pacific Investment Management Co. CEO Mohamed El-Erian told Bloomberg News the "worrisome" report "should jolt policy makers into realizing the U.S. faces an employment crisis.”

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