June Unemployment 9.5%

Employers in the U.S. cut a total of 467,000 jobs in June following losses of 519,000 in April and 322,000 in May. Revisions to prior months resulted in 8,000 fewer jobs lost than previously reported, the May total revised downward from -504,000 and the June data revised upward from -345,000.

The unemployment rate continued to rise, up from 9.4 percent in May to 9.5 percent in June, however, this was the smallest increase since last September, just prior to the financial market and economic crisis taking a turn for the worse. The current 9.5 percent rate is the highest since August of 1983.

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