US employers cut off 467,000 jobs in June

As the government announced Thursday in the report, US employers reduced 467,000 jobs in June, that appeared to become 100,000 greater than expected 363,000. At the same time, the unemployment rate rose to 9.5%. 

As the Labor Department results showed 8,000 fewer jobs were lost in April and May than it was previously reported. Thus, the May job losses were revised downward to 322,000, while the April losses were revised upward to 519,000.

June jobless rate was 9.5%, compared to 9.4% in May, that was the highest since a matching unemployment rate in August 1983. However, experts had forecasted the rate to grow to 9.6%.

June jobless reflected declines in services, thus it was shown 244,000 decline in services after a 107,000 drop in May. Professional and business services fell 118,000, while government employment fell 52,000. Manufacturing was one of the few sectors to show a smaller drop in June, falling 136,000 after a 156,000 fall in May.