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Jul 02 2009  

Markets Tumble in the Wake of June Unemployment Numbers

By Kyle Stock

So much for fingers crossed.

Today's unemployment numbers were a gut-punch to most pundits and the market, which steadily headed South this morning.

An unexpectedly high 467,000 jobs went missing in June, while the unemployment rate ticked up to 9.5%, a 25-year high.

Economists had ballparked about 350,000 job losses.

Among the positions lost were another 27,000 jobs in "financial activities." The industry has lost 489,000 jobs since the start of the recession.

Here's the kicker though: if you consider "marginally attached" or part-time workers as unemployed, the rate jumps to almost 17%.

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