Unemployment Up to 9.2 Percent, Raising Doubt About Economic Recovery

At Los Angeles Times:
The U.S. employment picture went from bad to ugly in June as employers added almost no new net jobs and the unemployment rate edged up for the third straight month, to 9.2%.

The report Friday from the Labor Department was a huge disappointment and raised fresh questions about the sustainability of the recovery, now technically starting its third year.

Major stock indexes fell sharply. Economists once again ratcheted down their expectations for future growth. And many others implored the federal government, deadlocked on how to address the deficit and intent on cutting spending, to step up and help the flagging economy and the millions of unemployed get back on their feet.
Continue reading.

Also, at Bloomberg, "U.S. Payrolls Grow at Slowest Pace in 9 Months." (Via Memeorandum.)

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