Unemployment Rate Climbs to 9.5%

Keep those compasses and machetes at the ready. We're not out of the woods yet.

This morning, the federal government said that the unemployment rate increased and more jobs were lost in June than had been forecast. Today, the Department of Labor announced the unemployment rate bumped up to 9.5% in June, its highest since 1983.

Employers cut 467,000 jobs during the month. Economists had anticipated a payroll deduction loss of only 365,000 in the month, though many also anticipated the rate rising to 9.6% as well. ...