Oil prices drop below $78 a barrel as US unemployment rate tops 10 percent
Oil prices tumble after US unemployment report Better-than-expected jobs report pushes stocks higher, feeds hopes for economic recoveryNEW YORK — The economy’s most vexing problem, unemployment, is showing the first signs of easing. And Wall Street is celebrating. Ireland’s unemployment rate hits 13-year high of 11.8 percent; welfare claims at record highDUBLIN — Ireland’s unemployment rate hit a 13-year high of 11.8 percent in May as a deepening recession pushed the welfare lines to record lengths, the Central Statistics Office reported Friday. |