Jobs Report Dashes Recovery Optimism

The unemployment rate jumped unexpectedly higher in June as U.S. job growth was virtually non-existent. Any hope that the economic recovery was temporarily scuffling seems to be crushed in lieu of a much more pessimistic view. The U.S. added just 18,000 nonfarm jobs last month, according to Labor Department data released Friday. It was the worst labor report in nine months. Continue reading the article.