June Jobless Rate Comes In At 9.2%

By: CNBC / Associate Press Email
By: CNBC / Associate Press Email

Analysts had been predicting that 150,000 jobs would be added. The Labor Department number didn't even come close.

Many economists note that for the jobless rate to actually come down, the economy needs to be adding hundreds of thousands of a job each month and that is not happening.

The report also showed that 6.3 million people have been unemployed for more than six months.

It also showed that while job creation is almost non-existent, hour wages actually dropped slightly.

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