Thursday, July 2, 2009

Unemployment Jumps... Can We PLEASE Forget About Inflation?

Marketwatch reports:

Workers lost jobs at a faster pace in June than in the prior month, the Labor Department said Thursday. Nonfarm payrolls shrank by 467,000 in June higher than the 325,000 decline expected by economists surveyed by MarketWatch and the 322,000 jobs lost in May. The unemployment rate ticked higher to 9.5% in June from 9.4% in the previous month. Economists had expected the unemployment rate to rise to 9.6%. Average hourly earnings were flat at $18.53. Economists had been expecting a 0.2% gain.
Unemployment vs. Broader Measure

Unemployment Breakdown

Hires - Openings - Quits (April w/ May coming in a week)

Source: BLS