The US unemployment rate edged higher to 4.5 per cent in June as 114,000 Americans lost their jobs, the US LabourDepartment said today in a report adding to signs of economic weakness.
The report portrayed a weaker jobs market that many had expected. Economistshad expected 44,000 job losses in June outside the farm sector. The jobless rate moved to 4.5 per cent in June, better than the rise to 4.6 per cent forecast by economists, from 4.4 per cent in May.
The closely watched report showed average hours worked remained steady in June at 34.3 hours per week. Inflation pressures appeared to be relatively muted as workers' wages grew 0.3 per cent to $14.29 in June from $14.25 in May.
