Friday, July 8, 2011

Unemployment Rises to 9.2%

A mere 18,000 jobs were added to the economy; not nearly enough to reverse the unemployment trend.

http://www.bloomberg.com/news/2011-07-08/u-s-payrolls-rose-18-000-in-june-jobless-rate-climbed-to-9-2-.html

"American employers added jobs at the slowest pace in nine months in June and the unemployment rate unexpectedly climbed to 9.2 percent, sending global stocks sliding on concern the world’s biggest economy is faltering.

Employers increased payrolls by 18,000 workers, less than the most pessimistic forecast in a Bloomberg News survey of economists, which called for growth of 105,000. The increase followed a 25,000 gain that was less than half the initial estimate. Hiring by companies was the weakest since May 2010.
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To put this in the contexts of the last two years; after rising to %9.5, 'fake' falling to %9.4, rising to %9.7, and then rising again to 9.8%, and rising again to 10.2%, dropping to 10%, held steady, dropping to 9.7%, held steady, held steady again, increased to 9.9%, dropped to 9.7%, fell to 9.5%, holding steady, rising a tick to 9.6%, held steady, held steady again, increased to 9.8%, 'fake' falling to 9.4%, 'fake fallen' again to 9%, dropped to 8.9%, falling again to 8.8%, rose to %9, rose to %9.1, and has risen again to %9.2.

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