US economy sheds 467,000 jobs


	US economy sheds 467,000 jobs

JICWyllie

7-2-2009 10:49 AM

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tags:

1-increase, 1-unemployment, 3-forecast, 4-us

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/026c89ce-05f4-49f9-b578-01f0f1b57504/0A9F657B-97EF-4A30-8AE4-6F7F7A42FCA4/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/6ac5f4e0-66fe-11de-925f-00144feabdc0.html" href="http://www.ft.com/cms/s/0/6ac5f4e0-66fe-11de-925f-00144feabdc0.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/6ac5f4e0-66fe-11de-925f-00144feabdc0.html"><P>The US economy shed another 467,000 jobs last month, signalling aggressive government stimulus measures are failing to unshackle the labour force from the grips of the recession, <A href="http://www.bls.gov/news.release/empsit.nr0.htm" title="BLS release" target="_blank" class="bodystrong">official figures showed on Thursday</A>.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/6ac5f4e0-66fe-11de-925f-00144feabdc0.html"><P>The result was worse than economists predicted and pushed the unemployment rate from 9.4 per cent to 9.5 per cent, slightly better than expected but still a 26-year high. Thursday’s figure shows further erosion from the previous month’s decline of a revised 322,000 drop and knocked wind from the notion that the pace of job losses might be slowing.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/6ac5f4e0-66fe-11de-925f-00144feabdc0.html"><P>“If you were banking on the US driving a vigorous recovery, think again,” said Alan Ruskin, a strategist at RBS Greenwich Capital. “The employment report can largely be taken at face value, and the face value story is a labour market that is not improving nearly as rapidly as the May data suggested.”</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/0A9F657B-97EF-4A30-8AE4-6F7F7A42FCA4/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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