Stocks open higher as unemployment remains steady

Wall Street is up in early trading after the Labor Department said the nation's unemployment rate held steady at 5.5 percent last month, as expected. The government also reported that 62,000 jobs were lost in June, but that number is close to economists' forecasts.

The report appears to be assuaging some worries that the snapshot of the labor market would be more grim. Employment numbers are critical because consumers who are out of work or are nervous about losing their job are likely to cut their spending. They've already become cautious because of higher food and energy prices.

The Dow Jones industrial average is up 60 points at the 11,275 level.

Terra/AP