US unemployment dips to 9.4 per cent | business | Hindustan Times
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US unemployment dips to 9.4 per cent

business Updated: Aug 07, 2009 20:46 IST
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The unemployment rate dipped slightly in the US in July as the rate of job losses reported slowed, the US Bureau of Labor Statistics reported on Friday.

July's unemployment rate stood at 9.4 per cent, representing 14.5 million people, down from 9.5 per cent in June representing 14.7 million people.

The bureau noted that the average monthly job loss rate for May through July was 331,000, compared with the average of 645,000 for November through April.

Some analysts said this was the first sign that the ongoing recession might be coming to an end.

However, the number of long-term unemployed - those out of work for 27 weeks or longer - rose by 584,000 to five million, or one-third of those registered jobless.

Job losses continued in many major industry sectors. The figures do not include those employed on farms.