US lost 467,000 jobs last month Unemployment now 9.5%

The Department of Labor reported this morning the loss of 467,000 positions well above the forecast of 320,000 jobs lost That loss pushes the unemployment rate up to 9.5% the highest in more than 25 years. All sectors reported lower employment figures and as the recession enter its 20th consecutive month.

So far the government’s stimulus has not worked and the mirage of May’s employment figure pointing to a recovery that now seems premature.

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza