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Friday, July 8, 2011

US adds just 18,000 jobs in June

US adds just 18,000 jobs in June The US added just 18,000 jobs in June, well below market expectations, while unemployment rose to 9.2 per cent. The weak data will heighten fears for the economic recovery in the second half of the year.
The rise in payrolls was significantly lower than the 105,000 forecast by economists in a Bloomberg poll. The data for April and May were revised down by 44,000.
Wall Street fell following the news, with S&P 500 futures down 1 per cent to 1,336.60. This follows a 1.1 per cent gain in the previous session as investors positioned themselves for a strong number following the better-than-expected ADP employment survey.

http://link.ft.com/r/NA70KK/R33NYO/FXWIVG/26H29G/DW51L1/ZH/h?a1=2011&a2=7&a3=8

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