Unemployment Rate Down: 9.5%

Posted by | July 2, 2010 09:59 | Filed under: Top Stories

We know what the right would be saying if the figures had gone the other way. So how will they spin the slight decrease in unemployment?

The jobless rate was 9.5 percent last month, down from 9.7 percent in May, a surprising decrease that came as hundreds of thousands of workers dropped out of the labor force. Private employers added 83,000 jobs in June, more than double the rate in May but still below the six-figure job creation numbers that would suggest a strong recovery in employment.

The picture isn’t all rosy.

The number of people who described themselves as employed actually fell by 301,000. But many more people — 652,000 — counted themselves as no longer being in the labor force at all, possibly out of frustration, pushing the unemployment rate down.

However, economists say this is not likely to signal a double-dip recession as had been feared.

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Copyright 2010 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

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