131,000 Jobs Lost in July; Unemployment Rate Remains at 9.5%

New figures from the Department of Labor show the nation lost 131,000 jobs last month, keeping the nation’s official unemployment rate at 9.5 percent. But many economists say the true unemployment rate is 16.5 percent if you include jobless people who have stopped actively looking for work and part-time workers who want more hours. Government statistics also show that far more people lost jobs in June than previously estimated.

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