Bloomberg Preview: June Unemployment
They see a loss of .2% for the month, which will take it up to 9.6%, and attribute the slower pace to long-awaited signs of stabilization in manufacturing:
Unemployment Probably Rose at Slower Pace: U.S. Economy Preview
By Shobhana Chandra
June 28 (Bloomberg) Unemployment in the U.S. probably rose at a slower pace and the manufacturing slump eased this month as evidence mounted that the end of recession is in view, economists said before reports this week.
The jobless rate rose 0.2 percentage point to 9.6 percent, the highest level in 26 years, according to the median of 58 estimates in a Bloomberg News survey. The gain would be the smallest since November 2008. A survey of purchasing managers may show manufacturing shrank at the mildest pace in 10 months.
Government efforts to stabilize housing and consumer spending are only now starting to pay off, indicating it will take months before a recovery develops. The job market will remain one of the biggest threats to the emerging rebound as companies from General Motors Corp. to Kimberly-Clark Corp. focus on cutting costs by trimming payrolls.
