The unemployment rate climbs to 5.7%, up from 5.5%, as some 51,000 jobs disappear. Seventh straight month of job declines.

Figures were better than the 65,000-75,000 job losses Wall Street had expected.

Candidates Respond:

McCain: “Unlike Senator Obama, I do not believe that raising taxes is the answer to our economic problems.” Read statement.

Obama: “I’ve already called for an economic stimulus package on two different occasions this year…” Read statement.

Plus: General Motors posts a $15.5 billion second-quarter loss.