PDA

View Full Version : US jobs creation stalls in June



syc
11th July 2011, 12:50 PM
Only 18,000 new jobs were created in the month, way below expectations of a 90,000 rise, which had been raised by strong private sector hiring figures released on Thursday.

The unemployment rate also rose, to 9.2% from 9.1% a month earlier.

President Obama said the report showed the US still had "a long way to go".

"We have added two million new private sector jobs over the last 16 months, but the recession cost us 8 million," he said in a statement at the White House.

"That means we still have a big hole to fill."

The worse-than-expected numbers sent global stock markets lower.

US markets opened lower, with the Dow Jones down 87 points, or 0.7%, at 12,633. The dollar also fell a cent against the euro.

The main European markets all closed more than 1% down following the release of the figures.