The US government think tank published a report which mentioned that unemployment rate in June climbed to 17.4%, the highest in the country.
The report shows that jobless rate increased 0.8 points from May’s revised mark of 16.6%, which had been an all-time high.
US government think tank highlights the labor force grew by about 130,000 people, or roughly 4%, in June, an indicator that people looking jobs. The ranks of the unemployed swelled by almost 9%, to nearly 640,000 people last month.
As Boston think tank believe that unemployment rate as high as 25%, and research director at the Pioneer Institute, Mr. Greg Sullivan said that the unemployment rate is kind of a tricky index because if people stop looking for jobs, they disappear from the unemployment rate.
