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Unemployment rate falls to 9.5 percent in June

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The U.S. lost 125,000 jobs in June and the unemployment rate fell to 9.5 percent from 9.7 in May, according to The New York Times.

The number of jobs shed was affected by 225,000 temporary Census Bureau workers losing their jobs.

The U.S. added 83,000 private-sector jobs in June compared with 33,000 in May. The median forecast from economists predicted 110,000 private-sector jobs would be added in June.

The construction sector lost 22,000 jobs in June, and the government sector lost 208,000 jobs, largely because of laying off the temporary Census Bureau workers.

Additionally, the temporary help services sector gained 21,000 jobs; manufacturing sector gained 9,000 jobs; and health care sector gained 9,000 jobs.

There are nearly five unemployed people for every job opening, and nearly half of those individuals have been out of work for at least six months. The U.S. economy has lost 7.4 million jobs since the recession began in December 2007.


7/2/2010

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