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US Unemployment Rate Increases to 9.5%, a 26-year high
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by alia_d | July 2, 2009 at 12:00 pm
347 views | 16 Recommendations | 3 comments
The US unemployment rate, which increased to 9.5%, has hit a 26-year high, according to a report released today by the US Department of Labor.
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This increase in unemployment occurred because US businesses laid off many more workers than predicted. 467,000 workers were laid off in June, while economists had predicted that 363,000 would lose their jobs.
Job loss in the US economy peaked at 741,000 in January. Since then, job loss decreased every month until now. The number of jobs lost in May was higher than in June.
The US economy has lost 6.5 million jobs since December 2007. Minorities are most affected, with the black unemployment rate currently at 15%.
Richard Snook, senior economist at the Centre for Economics and Business Research (CEBR), said: "Today's figures pour cold water on recent optimism about the US recovery."
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Most RecentMost Recommended Comments (3)
at 16:13 on July 2nd, 2009
Nothing like good news.
at 19:10 on July 2nd, 2009
good news?
at 07:23 on July 10th, 2009
Check the latest layoff details on http://portalseven.com/Layoffs .
You can check layoffs happening in all sectors of economy, from financial to education to government and lot more.
If want to know the aftermaths of the current financial crisis, I suggest to keep eye on this site.