Even More Jobs Lost In June

With employers cutting hours for their full-time employees, shrinking salaries and laying off workers, the U.S. Department of Labor reported 62,000 jobs were lost in June, the sixth consecutive month that payrolls have declined. Businesses cut 52,000 more workers previously in April and May. The U.S. has only seen a net gain of 15,000 jobs since the beginning of the year, the lowest increase since 2003. Average hourly earnings grew only 3.4 percent, the slowest pace since the start of 2006.  Janitors and administrative workers were the hardest hit, with about 70,000 workers losing their jobs in June alone.