SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Bucky Katt who wrote (12541)7/3/2003 8:54:56 AM
From: Bucky Katt  Read Replies (1) of 13094
 
Unemployment Rate Jumps To Nine-Year High of 6.4%

DOW JONES NEWSWIRES

WASHINGTON -- The unemployment rate surged to a nine-year high in June as businesses cut jobs for a fifth consecutive month, suggesting that tax and interest-rate cuts have yet to revive the struggling economy.

Nonfarm business payrolls declined by 30,000 in June, raising the total of job cuts since the start of the year to 236,000, the government said Thursday. The unemployment rate climbed three-tenths of a percentage point to 6.4%, the highest level since April 1994.

In a separate report, the government said that first-time applications for unemployment benefits rose by 21,000 last week. That marked the first increase in a month and it indicated the labor market was still deteriorating at the end of June.

Economists had expected the unemployment rate to come in at 6.2% and that jobless claims would rise by 6,000, according to surveys by Dow Jones Newswires and CNBC.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext