Bush Continues to Lose Us More Jobs

Doug · Post by **Doug** » Thu Jul 03, 2008 7:42 pm

WASHINGTON (Reuters) - U.S. employers cut workers for a sixth straight month in June for the longest such streak since 2002 and the country's vast service sector unexpectedly contracted, underscoring the economy's frailty.

The Labor Department said on Thursday that 62,000 nonfarm jobs were shed last month, bringing the number of jobs lost this year to 438,000 as a housing market crash chilled growth.

The unemployment rate, which shot up sharply in May, held steady at 5.5 percent.

See here.

DOUG
Counting those who are underemployed and those who gave up looking for a job, unemployment is actually more like 9.9%.

Barbara Fitzpatrick · Post by **Barbara Fitzpatrick** » Fri Jul 04, 2008 4:31 pm

Counting those who "don't count" - like students and mothers of children under 6 - along with the folks who've given up and the ones who are underemployed, the unemployment rate hit the double digits some time ago.