Financial Post.com: U.S. unemployment rate highest since 1983
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U.S. unemployment rate highest since 1983<
U.S. employers cut 467,000 jobs in June, far more than expected, while the unemployment rate rose to 9.5%, the government said on Thursday in a report that showed a labor market continuing to struggle with a deep recession. The June job losses were more than 100,000 greater than the 363,000 consensus of Wall Street economists polled by Reuters and broke a four-month trend of moderation in job losses. The Labor Department data showed that in April and May, 8,000 fewer jobs were lost than previously reported. The May job losses were revised downward to 322,000, while the April losses were revised upward to 519,000.
Labels: Economy, Labor, Unemployment, US
