Economy Losses 467,000 Net Jobs in June 2009, More than Economists were Expecting

The June numbers had few signs of hope for a recovery anytime soon.  The economy lost a net 467,000 jobs, more than economists were expecting and more than last month’s 322,000 net losses.  The unemployment rate, after several sharp jumps earlier this year, remained essentially level at 9.5%--but since the participation rate also declined for most groups, that could be due to people no longer looking for work and therefore not counted.  Black unemployment decreased from 14.9% to 14.7%; adult black men decreased to 16.4% and adult black women saw a slight increase to 11.3%.  White unemployment increased slightly to 8.7% and Latinos saw a drop to 12.2%.  Once again manufacturing (-136,000), professional/business services (-118,000) and the construction sector (-79,000) led jobs losses—these three sectors have accounted for nearly three-quarters of job losses since the recession began

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