June unemployment rate drops to 9.5 percent but 125,000 jobs lost

[Valin]

Washington Post:

Frank Ahrens
7/2/10

The official June unemployment rate came in at 9.5 percent, down from 9.7 percent in May, the lowest number since last summer.

The economy shed 125,000 jobs last month, BUT that includes letting go of 225,000 temporary U.S. Census workers.

If there was good news in this report it was that the private sector added 83,000 jobs in June, which was more than the ADP private-sector jobs report, released earlier this week, predicted would be added. This is an increase over 33,000 private-sector jobs added in May....Snip)