467,000 Cut In June

The June numbers were not good and worse than forecasted for the United States, according to Bloomberg:

Employers in the U.S. cut 467,000 jobs in June, the unemployment rate rose and hourly earnings stagnated, offering little evidence the Obama administration’s stimulus package is shoring up the labor market.

 

The payroll decline was more than forecast and followed a 322,000 drop in May, according to Labor Department figures released today in Washington. The jobless rate jumped to 9.5 percent, the highest since August 1983, from 9.4 percent.

 

Unemployment is projected to keep rising for the rest of the year

Not good...