Unemployment Rate hits 26 Year High

by Marilou Moursund on July 2, 2009

in Economic Indicators,Employment

Non-farm payrolls fell by 467,000 for June versus a consensus estimate of down 350,000.  The unemployment rate rose to 9.5% from May”s 9.4%.  The unemployment rate in the 1981-1982 recession peaked at 10.8%.

These numbers are in contrast nbso online casino reviews to the fairly positive news on the ISM from yesterday.  The ISM index rose to 44.8 from 42.8, and a reading above 50 indicates that the economy is expanding.

The market doesn”t like the numbers, and declines are outpacing advances by 9 to 1.

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