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Unemployment rate in US

Submitted by admin on Friday, 3 July 2009No Comment

U.S. employment fell by a seasonally adjusted 467,000 jobs in June, after declining by 322,000 the month before, the Labor Department said Thursday. The report is at odds with such signs of recent economic improvement as growing home sales and increased business investment.The key question is how long will the U.S. keep shedding jobs. Unemployment, as well as the fear of losing work, has slowed consumer spending and hobbled overall economic growth.Manufacturing employment continued to sink, dropping another 136,000 positions, as the battered auto industry and related transportation industry contracted. The construction industry cut 79,000 jobs last month and is now down 1 million jobs from a year ago, masking job gains from some 2,000 projects in the Obama Recovery Act that already have been launched.

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