US unemployment up, 467,000 jobs lost in June 2009

The U.S. Labour Department has released new nationwide unemployment figures for June 2009.

According to the report, 467,000 jobs were lost in U.S. in June 2009, with the jobs lost across major industry sectors, including in manufacturing, professional, and industrial industries. Of the June total, 9 million were people who wanted full-time work but simply could not find.

The job losses in June brought the total number of people unemployed in the U.S. to 14.7 million, up from 14.5 million the month before, pushing the U.S. unemployment rate to 9.5 percent, the highest in 26 years.

The report cited teenagers and blacks with the highest unemployment rates in June, with 24 and 14.7 percent, respectively.

The report says since the start of the U.S. recession in December 2007, the unemployment rate increased by 4.6 percent, or by 7.2 million people.


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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to hercules@business2press.com
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