Today the U.S. Bureau of Labor Statistics (BLS) reported that the unemployment rate increased from 9.1% to 9.2%.
According to the BLS employment report:
Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment in most major private-sector industries changed little over the month. Government employment continued to trend down.
Unemployment unexpectedly rose in June, because there were only 18,000 jobs added last month. This news missed economists expectations, since they were expecting more jobs to be added and the unemployment rate to improve to 9%.
President Obama is expected to address the jobs report today at 10:35 a.m. EST.
