Unemployment Rate Drops, Layoffs Rise

Friday, July 02, 2010

New figures out this morning show the unemployment rate dropped to 9.5 percent, it's lowest in almost a year. But this was driven mostly by a drop in people looking for work. Employers cut 125,000 jobs last month, which was the most since last October. New York Times finance reporter, Louise Story, breaks down the numbers. Louise reminds us that 8 milllion jobs have been lost since 2007 and that a real recovery will take years. She also looks at the effects of these numbers on the markets.

Guests:

Louise Story

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