US jobless rate hits 9.5 pc in June


jj-jamThe US economy shed 467,000 jobs in June and the country’s unemployment rate climbed to 9.5 per cent, the US Labour Department said Thursday. The monthly figures were worse than expected, after the US job slide had improved dramatically in May. The Labour Department revised May’s job loss to 322,000 from 345,000. Economists had predicted only 365,000 jobs would be cut in June, according to a Bloomberg News survey. The United States has now lost 6.5 million jobs since a recession began in December 2007 and the unemployment rate remains at its highest level in a quarter-century. Manufacturing and construction continued to be some of the worst hit industries. Health care remained one of the few growing sectors.