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77,000 Jobs Lost In June With Only 9,000 New Jobs Created

Published 07/31/08 Jeff Bennett - Print Article
E-mail - editor@economyincisis.org

American companies created 9,000 jobs in July after eliminating 77,000 jobs in June, 17,000 more losses than the forecasted 60,000 cuts, according to Bloomberg.com. The addition of 9,000 jobs caused the dollar to reach a one-month high against the euro.

The new 9,000 jobs fails to offset the loss of 77,000. The American workforce is losing too many jobs while few positions are being created, providing no solution to our failing economy.


Source Bloomberg.com:

The dollar rose to a one-month high versus the euro after a private report showed U.S. companies unexpectedly added jobs.

…

The U.S. dollar strengthened versus the euro as ADP Employer Services reported that companies added 9,000 jobs in July after cutting a revised 77,000 positions in the previous month. The median forecast of 29 economists surveyed by Bloomberg News was for a reduction of 60,000 jobs.

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