US job cuts higher than predicted

The total number of job losses for the United States for the past month have turned out to be higher than predicted. The job losses totaled 467,000.

The amount of people out of work in June increased to 9.5% which is up from 9.4% on the previous month as the United States continues to battle the recession. According to the Department of Labor the amount of people out of work has increased by 7.2 million since the start of the downturn which begun in 2007. Unemployment was not as high as it was feared but the amount of people out of employment are at their highest levels since back in the early eighties. The total of people unemployed and the total of people who have lost their jobs have different ways of being measured. The figures show that 14.7 million people were made unemployed in June. Keith Hembre works as a chief economist for FAF Advisors, he said: "The job market is terrible. It's as bad as we've seen in our lifetime," "The light at the end of tunnel is that we see some stability in domestic demand and some demand overseas."