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July 9th, 2012

June Job Creation at 80,000; Rate Holds Steady at 8.2%

During the month of June, the U.S. economy created just 80,000 jobs. This is due to the increase of 84,000 jobs in the private sector and a decrease of 4,000 jobs in government. This marks the worst three-month period in two years. The private sector job growth has now increased 28 months in a row. This report shows that serious talk about QE3 will be back in discussion by the Federal Reserve because the unemployment rate is the most closely watched indicator as to whether Federal Reserve needs to step in with additional monetary easing.

By Nicholas Shearer, CREDC Intern

Information for this post was obtained from CNBC


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