Jobless Rate 6.4%

The jobless rate hit 6.4 per cent – a much worse reading than the 6.2 per cent projected by private economists. It was up 0.3 of a percentage point from May’s 6.1 per cent, to a level not reached since April 1994, according to the U.S. Department of Labor. Even though the service sector is employing more people, total payrolls have lost 400,000 jobs since January.

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