467K jobs cut in June..... jobless rate at 9.5 percent in America!


#1

Employers cut a larger-than-expected 467,000 jobs in June and the unemployment rate climbed to a 26-year high of 9.5 percent. Workers also saw weekly wages fall, suggesting Americans will have little appetite to spend and the economy's road to recovery will be bumpy.

All told, 14.7 million people were unemployed in June.

Wot s the Future of America with respect to that Huge Unemployment.....?


#2

Source please....


#3

Latest Yahoo News.....!


#4

A big crisis showing the true face of wild west economy which was built on interest and imaginary wealth. This is the cycle of life one rises and other falls! It is must, to gain the potential to rise again!


#5

A great article on this subject by Michael Parenti.

Capitalism’s Self-inflicted Apocalypse


#6

they will bounce back in a couple of years..what goes down will come up again


#7

[quote=", post:, topic:"]

they will bounce back in a couple of years…what goes down will come up again
[/quote]

I do not think so! America is stepping towards Disaster! I believe!


#8

america soon under a big problem , u wil c..


#9

^ Don't use Roman Urdu.


#10

[quote=", post:, topic:"]

A big crisis showing the true face of wild west economy which was built on interest and imaginary wealth. This is the cycle of life one rises and other falls! It is must, to gain the potential to rise again!
[/quote]

So true, anything that is built upon the foundations of inquality and discrimination cann’t lost long.


#11

The number of newly laid-off workers filing initial claims for jobless benefits last week fell to lowest level since early January, largely due to changes in the timing of auto industry layoffs.

Continuing claims, meanwhile, unexpectedly jumped to a record-high. While layoffs are slowing, jobs remain scarce and the unemployment rate is rising, which some economists worry could weaken or delay a recovery. The unemployment rate rose to 9.5 percent last month and is expected to top 10 percent by the end of this year.

Separately, many retail chains reported disappointing June sales, as consumers are saving more and spending less.

New claims for unemployment insurance plummeted by 52,000 to a seasonally-adjusted 565,000, the Labor Department said Thursday. That's significantly below analysts' expectations of 605,000 for the week ending July 4, according to Thomson Reuters. The last time new claims were below 600,000 was week of Jan. 24.

Source: Yahoo News!