Mercy Baron 9:30 p.m., July 29
Job Gains Shockingly Low. Double-Dip?
The nation gained only 18,000 jobs in June, and May gains were revised down from 54,000 to 25,000, the federal government announced today. Economists had expected 125,000 jobs in June — a stunning commentary on the economy's weakness or possibly on economists' incompetence. The unemployment rate rose to 9.2% in June, up from 9.1% in May, hitting the highest level since December. Once again, there is talk of a possible double-dip, or the economy going into, or nearing, another recession. In early trading, the stock market is down.
More like this:
- Economy adds 157,000 jobs but unemployment rate rises — Feb. 1, 2013
- U.S. Adds Few Jobs in May, Unemployment Rate Rises — June 1, 2012
- Jobs Report Better Than Expected. Market Relieved — Aug. 5, 2011
- May Jobs Growth Anemic, Unemployment Rate Rises — June 3, 2011
- Scary Housing Numbers — Sept. 8, 2010