|
Unemployment Hits 9.5 Percent - 07/02/2009
Still in the grip of the worst downturn in the economy since the Great Depression, the American economy lost 467,000 jobs in June, when the unemployment rate edged up to 9.5 percent. "It's scary," Senator Bernie Sanders said of the latest monthly report on the nation's job situation. It's the worst jobless rate in more than a quarter century. The depressing data released on Thursday by the Labor Department brought t 6.5 million the tally of jobs lost since the beginning of the recession last year. That's the same number of net jobs gained during all of the previous nine years. Sanders said the report underscored the need for a serious investigation into the financial crisis to determine what happened and what we can do to make sure that it never happens again. -- READ MORE
|