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Unemployment up, job creation slows

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In the sometimes bizarro world of Wall Street, bad economic news like this sometimes triggers a market rally because gosh, all the bad news must be out now and / or this means the Fed has to cut rates.

But such delusions appear behind the street now, as worldwide markets went down sharply on the news.

In the real world, a rising unemployment rate and way less then expected job creation means a whole lot of hurt for those already struggling to pay the bills. The economy, not the war, will be the central issue in the presidential campaign.

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