PALLAVI GOGOI,AP Business Writer
NEW YORK (AP) — Stocks are closing sharply lower on Wall Street after the U.S. government
reported that only 80,000 jobs were created in June, the third straight month of
weak hiring.
The Dow Jones industrial average fell 124 points to 12,772 Friday. The loss
wiped out the Dow's gain for the week.
The unwillingness of U.S. employers to add jobs quickly shows that the
economy is still struggling three years after the recession officially
ended.
The Standard & Poor's 500 slid 13 points to 1,355 and the Nasdaq
composite fell 39 points to 2,937.
Falling stocks outpaced rising ones by over two to one on the New York Stock
Exchange. Volume was very thin at 2.6 billion shares.
Copyright 2012 The Associated Press.
