American president Mr. Barack Obama says he’s still “deeply concerned” about the continuing loss of jobs across the country.
He said that developing both a shot-term and long term solution to American’s economic.
Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high 9.5%, according to the Labor Department.
However, the rise in the unemployment rate from 9.4% in May wasn't as sharp as the expected 9.6%. Many economists predict the jobless rate will hit 10% this year, and keep rising into next year, before falling back.
All told, 14.7 million people were unemployed in June.