July Jobless Number Comes In At 9.5%

By: Associated Press / CNBC Email
By: Associated Press / CNBC Email

The government reported Friday morning 131,000 jobs were lost in the month of July. The number of unemployed people is put at 14.6 million, and of that number more than 6 million have been without a job for six months or more.

In the private sector there was some job creation. That number put at 71,000 but it was not enough to offset job losses in the government sector.

The jobless rate for July was put at 9.5%.

The government also reported that in May and June the number of government jobs lost was higher than originally reported.

The report highlights continued weakness in the labor market and continued to fuel worries that without some job growth soon the economy may dip back into recession.

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