Jeannine Aversa and Christopher S. Rugaber
July 3, 2010
A second straight month of lackluster hiring by American businesses is sapping strength from the economic rebound.
The jobless rate fell to 9.5 percent in June, still far too high to signal a healthy economy. It came in slightly lower than the month before only because more than a half-million people gave up looking for work and were no longer counted as unemployed.
The private sector added just 83,000 jobs for the month. Looked at from that angle or almost any other, from a teetering housing market to falling factory orders, the recovery is limping along as it enters the year’s second half. And that is when the benefits of most of the government’s stimulus spending will begin to wear off.
This article was posted: Saturday, July 3, 2010 at 8:00 am