Jobs Hemorrhaging

June saw only 18,000 jobs added. The unemployment number is now 9.2%. None of the “experts” saw this coming. Estimates were from 100,000 to 162,000.
In addition, the revisions for April and May showed 44,000 fewer jobs created than earlier reported and in the private sector 20,000 fewer jobs than reported. Average hourly earnings dropped 0.1%.
The number of unemployed persons out of work for five weeks or less went up by 412,000 last month and those unemployed 6 months or longer went to 6.3 million.
This makes the labor force participation rate 64.1% – the lowest in 25 years!

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