UNEMPLOYMENT -- July 8, 2011 at 8:42 AM ET
Unemployment Up to 9.2 Percent in June, Only 18,000 Jobs Added
Job seekers register and pick up open jobs fliers from potential employers at Los Angeles Mission's 10th annual Skid Row Career Fair June 2, 2011 in Los Angeles, Calif. Photo by Kevork Djansezian/Getty Images.
Unemployment rose to 9.2 percent in June according to numbers released by the Bureau of Labor Statistics Friday. Employers added a mere 18,000 jobs during the month, the worst performance in nine months.
The numbers from May and June contrast with earlier months, when around 200,000 jobs were being added each month. And government employers cut around 39,000 jobs.
According to the Associated Press:
High gas prices and supply-chain disruptions stemming from the Japan crisis and the weak housing market have slowed the economy. Average hourly wages declined last month. After-tax incomes, adjusted for inflation, have been flat this year.
The lack of new jobs may hamper consumer spending, which comprises nearly three-quarters of the economy.
Paul Solman has his own comprehensive number of the un- and underemployed, known as the 'U7,' below: