President Obama said he signed into law Friday a bill to provide up to 20 additional weeks of jobless benefits to unemployed Americans and extend the $8,000 tax credit for new homebuyers into the middle of next year.

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U.S. job losses declined 247,000 in July, while the unemployment rate surprisingly fell, providing further evidence that the recession is nearing an end.

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Wall Street firms are slowly beginning to hire again, offering a bright spot amid continued job losses in financial services.

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