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POSTED AT 8:59 AM EDT Friday, July 06
U.S. economy sheds 114,000 jobs in June
By TERRY WEBER
Globe and Mail Update
The struggling U.S. economy lost
another 114,000 jobs in June, the U.S.
Department of Labor said Friday in a
report that suggested continued
weakness south of the border.
The job-creation figures came well
below expectations. Economists'
forecasts had called for job losses for
the month to come in closer to 44,000.
According to Friday's report, U.S.
unemployment inched up to 4.5 per
cent from 4.4 per cent the month
before. Economists had predicted the
rate would rise to 4.6 per cent in June.
"Manufacturing experienced another
large job loss and wholesale trade
employment declined for the third
consecutive month," the U.S.
government department said in its
"Other major industry groups showed no significant change in employment over the month."
The report also said average hours worked in June remained steady at 34.3 hours a week.
Workers' wages grew 0.3 per cent to $14.29 (U.S.) in June, compared with $14.25 the month
June's decline in job creation
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