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Payrolls drop by 125K, jobless rate falls

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posted on Jul, 2 2010 @ 07:40 AM
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Payrolls drop by 125K, jobless rate falls


townhall.com

A wave of census layoffs cut the nation's payrolls in June for the first time in six months, while private employers added a modest number of jobs. The unemployment rate fell to 9.5 percent, its lowest level in almost a year.

The Labor Department says employers cut 125,000 jobs last month, the most since last October. The loss was driven by the end of 225,000 temporary census jobs. Businesses added 83,000 workers to their payrolls, an improvement from May.


(visit the link for the full news article)




posted on Jul, 2 2010 @ 07:40 AM
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The unemployment rate fell as more people out of work gave up on their job searches and left the labor force. People who are no longer looking for work aren't counted as unemployed.

Please visit the link provided for the complete story.


I have always said that the unemployement rate given by the BLS isn't accurate at all. Also, the Census jobs were artificially keeping the unemployment numbers lower than they should have been. The sad truth of the matter is that our economy is worse off than many believe, at least in my opinion.

With the UN talking about dumping the dollar as the international reserve currency, we are facing some dangerous times.

--airspoon

townhall.com
(visit the link for the full news article)



posted on Jul, 2 2010 @ 09:09 AM
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It means that the numbers of those deemed unemployable have been increased, and that the current depression is getting worse. Considering that the Euro is doing worse than the dollar, the UN isn't about to drop the dollar. The current system is completely broke.

Funny how the conservatives were more than willing to increase deficit spending when it benefited the super rich, but now when it comes to doing something for the working class, suddenly they find deficit spending outrageous.

Basically, repubs in congress are working hard to destroy any chance of economic recovery. They are currently repeating the same mistakes made early in the first Great Depression. Things are about to get much worse.



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