NEW YORK ( TheStreet) -- U.S. indices finished moderately lower Friday but were each down roughly 5% during a week that battered the market with disappointing economic data, including larger-than-expected job losses than June. Despite some see-sawing at the very beginning and end of the session, stocks spent most of the trading day in the red. The Labor Department said the economy lost another 125,000 jobs in June and the unemployment rate fell to 9.5% from 9.7%, as the work force declined. Stocks managed to pare losses in the afternoon and closed off the day's lows. The Dow Jones Industrial Average lost 46 points, or 0.5%, to close at 9,687, and fell 4.5% on the week. The S&P 500, which gave up 5% during the week, shed 5 points, or 0.5% on Friday, closing at 1023. The Nasdaq shed 10 points, or 0.5%, to close at 2092 and saw the largest week-over-week loss of 5.9%. > > Bull or Bear? Vote in Our Poll Commenting on the state of the economy this morning, President Obama said June's unemployment report reflected the planned phase-out of 225,000 census jobs but showed the sixth-straight month of private sector job growth. The president also announced new broadband infrastructure investments aimed at boosting job creation and limiting geographic barriers. "It wasn't a very favorable report," said Keith Hembre, chief economist and chief investment strategist at First American Funds of Minneapolis. "It was decent but didn't fully meet expectations. The unemployment rate did come down, but there were a whole bunch of caveats around that. There was a very low labor participation rate -- if that had remained steady, the unemployment rate would have increased to 9.8%." "Both the average and median rate of unemployment moved to new highs. Couple that with the decline in the average work week and average hourly earnings and you get a pretty weak month for household income. That has implications for consumer spending and GDP." Hembre said the market's muted reaction after some volatility immediately following the report was to be expected since investors have been responding to a string of disappointing economic news all week. Overseas on Friday, Hong Kong's Hang Seng slipped down by 1.1% while Japan's Nikkei inched 0.1% higher. The FTSE in London gained 0.6%, while the DAX in Frankfurt shed 0.4%.