NATALIE ALLEN, CNN ANCHOR: Now to the economy: "It's always darkest before the dawn" says one expert. And some others are also trying to sound reassuring that the unexpectedly high jobless numbers could be a burst of bad news before the economy gets back on track. That's probably little consolation if you have had one of 113,000 jobs eliminated in August, sending the unemployment rate to 4.9 percent. The news sent jitters through Wall Street. For more now, let's bring in Chris Huntington of CNN financial news. He's joins us from New York. Chris, break it down for us. Which areas were hit hardest?</s>CHRIS HUNTINGTON, CNN CORRESPONDENT: Well, Natalie the bulk of the job loss came in the manufacturing sector -- the much-beleaguered manufacturing sector. Within manufacturing you saw steep losses in industrial machinery, electrical equipment, furniture making. The losses in manufacturing not surprising, but the depths -- the continued hard cuts in that area, indeed more than economists were looking for this time around.</s>ALLEN: What could all this mean for interest rates?</s>HUNTINGTON: Well, almost certainly economists across the board are saying that the federal reserve will continue to cut interest rates. The Fed policymakers have another regularly scheduled meeting in October. There's talk now among Wall Street economists that the Fed could even cut rates before that meeting. They have done that before in this rate-cutting cycle. So I would say the expectation on Wall Street is almost a full consensus that there will be further rate cuts.</s>ALLEN: All right, Chris Huntington, we thank you from CNN financial in New York.
Jobless Rate Brings Hope of Interest Rate Cuts