U.S. unemployment rate hits 9.5%, a 26-year high

In June, 467,000 jobs were lost; analysts had predicted 350,000. Despite positive signs for the economy in recent weeks, the report is evidence that the jobs market remains troubled. The nation’s unemployment rate edged up to a 26-year high of 9.5% in June as employers slashed nearly half a million jobs over the month across a wide spectrum of industries, the Labor Department reported today.

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U.S. unemployment rate hits 9.5%, a 26-year high