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US loses 467,000 jobs, unemployment at 9.5%

Posted By admin On July 2, 2009 @ 8:28 am In Money Watch | Comments Disabled

The Age [1]
Thursday, July 2, 2009

US employers shed 467,000 jobs in June, pushing the unemployment rate to a fresh 26-year high of 9.5 percent, the Labor Department reported Thursday.

Analysts had expected a smaller number of 365,000 job losses, but a higher unemployment rate of 9.6 percent. The jobless rate in May was 9.4 percent.

(ARTICLE CONTINUES BELOW)

US loses 467,000 jobs, unemployment at 9.5% 250509BANNER [2]

The agency revised its estimates for May to show fewer job cuts — 322,000 instead of 345,000. But the April figure was revised from a loss of 504,000 to 519,000 jobs.

The report, one of the best indicators of economic momentum, appeared to dash hopes for a quick turnaround in the labor market, after a moderation in job losses in May.

Full story here. [1]


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URLs in this post:

[1] The Age: http://news.theage.com.au/breaking-news-world/us-loses-467000-jobs-unemployment-at-95-20090702-d6mv.html

[2] Image: http://prisonplanet.tv/signup.html

[3] U.S. unemployment soars to 9.6% after economy loses 54,000 jobs: http://www.prisonplanet.com/u-s-unemployment-soars-to-9-6-after-economy-loses-54000-jobs.html

[4] U.S. unemployment hits record but job losses slow: http://www.prisonplanet.com/us-unemployment-hits-record-but-job-losses-slow.html

[5] Florida unemployment hit record 12.2 percent in February: http://www.prisonplanet.com/florida-unemployment-hit-record-12-2-percent-in-february.html

[6] 195,000 Fewer Americans Had Jobs in July; 150,000 Dropped Out of Labor Force: http://www.prisonplanet.com/195000-fewer-americans-had-jobs-in-july-150000-dropped-out-of-labor-force.html

[7] Real Unemployment Rate 14.6 Percent in October: http://www.prisonplanet.com/real-unemployment-rate-14-6-percent-in-october.html

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