Stocks cap off the week with a gain

(WWLP) - Stocks lost steam following Thursday's rally, but still capped off the week in the green.

The Dow picked up 17 points, and the NASDAQ rose seven points.

The Labor Department says the unemployment rate has risen above 10% for the first time in 26 years, and will probably go even higher.

Numbers released on Friday show that the unemployment rate jumped to 10.2% in October, up from 9.8% in September.

About 190,000 jobs were lost in October alone.

Meantime, people are cutting back on their borrowing.

Consumers borrowed less for the eighth straight month in September.

The Federal Reserve says borrowing dropped $14.8 billion in September.

Many people finding it hard to get credit because banks are tightening their lending standards.

Oil prices took a dive on Friday.

The price for crude oil slipped $2.19 in trading, dropping to $77.43 a barrel.