Jobless rate sinks to 10% lowest in 10 months
| Washington
The nation's unemployment rate dropped for the fourth straight month in June to 10 percent, the lowest point since last August, the Labor Department reported. This was a decline of one-tenth of 1 percent in the May jobless rate.
Meanwhile, interest rates on government-backed mortgages will rise from 12 percent to 12.5 percent effective today (July 11), the administration announced.