Claims for jobless aid rose last week, but a gauge of future home sales rose in a hopeful sign for the battered housing sector.

Payrolls contracted for the seventh consecutive month, but the loss was less than the 75,000 jobs that economists had expected.

Payrolls contracted for the seventh consecutive month, but the loss was less than the 75,000 jobs that economists had expected.

Recent cheer in stock markets ended as investors scrambled to sell and take profits, sending the Dow Jones industrials down more than 273 points.

Recent cheer in stock markets came to an end as investors scrambled to sell and take profits, sending the Dow Jones industrials down more than 230 points by late afternoon.

Existing homes fell more sharply than expected in June as the housing industry continued to be bruised by the worst slump in more than two decades.

Existing homes fell more sharply than expected in June as the housing industry continued to be bruised by the worst slump in more than two decades.

New York State began notifying out-of-work residents on Monday that they may be eligible to collect an additional 13 weeks of unemployment checks.

Fewer people signed up for unemployment benefits last week, but the drop was not enough to overcome continuing weakness in the country’s labor market.

The unemployment rate held steady as 62,000 jobs disappeared in June, the Labor Department reported.