Unemployment Rate, Job Losses on the Rise

By Toni Vranjes

July 2, 2009

Accelerating job losses pushed the U.S. unemployment rate slightly higher in June, to 9.5 percent — the highest level in 26 years.

Employers cut 467,000 jobs in June, the Labor Department reported today. In comparison, the economy shed 322,000 jobs in May, according to revised figures released by the department.

The June losses were spread across major industries, including manufacturing, construction, and professional and business services. The federal government cut 49,000 jobs, primarily because of the layoffs of temporary Census workers.

About 6.5 million jobs have disappeared since the recession began in December 2007.

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