U.S. Unemployment Reaches 9.5 Percent


Reaching its highest level in 26 years, the U.S. rate of unemployment rose a tenth of a point to 9.5 percent this past month. 467,000 jobs were lost in June alone, and the number of workers who have been unemployed for more than half a year has tripled since the recession began. In the meantime, the White House has conceded that the unemployment rate will likely reach 10 percent. The amount of people filing for unemployment has leveled off, but economists think it may be because more people are just “giving up.” [NYT]