News Column

US Unemployment Static at 8.2 Percent

July 7, 2012
Unemployment

The U.S. unemployment rate stayed at 8.2 percent in June, the Bureau of Labor Statistics said Friday.

The stubbornly high rate is an indicator of the sluggish economy and a major challenge to President Obama as he seeks re-election in November.

Payrolls rose 80,000 in June after a 77,000 increase in May, falling short of the more than 100,000 projected by economists over the past days.

Obama took office in January 2009 in the midst of the deepest economic downturn in 80 years. The jobless rate peaked at 10 per cent in October 2009, and dropped to its lowest in April at 8.1 per cent.

The rise to 8.2 per cent in May and June reflected a stalled economic recovery after a pickup in growth in 2011. Ongoing uncertainty about the eurozone crisis, combined with bitter partisan gridlock in Washington over budgetary issues, have contributed to labour uncertainty.



Source: Copyright 2012 dpa Deutsche Presse-Agentur GmbH


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