Bad numbers on the unemployment totals for June. Employers cut 467,000 jobs last month, higher than analysts expected, bringing the unemployment rate to 9.5 percent. Some analysts expected unemployment to hit 9.6 percent.

The Labor Department also said June's payroll reductions were deeper than the 363,000 that economists were predicting.

14.7 million people were unemployed in June. Since the recession began in December, the economy has shed a net total of 6.5 million jobs.

The numbers for unemployment in June were higher than May, but lower than April's big cut of 519,000, revised from 504,000. According to the report, it appears, hopefully, that the largest layoffs have passed, with 741,000 jobs being eliminated in January.

In other related news...

Newly laid-off workers filing applications for unemployment benefits fell last week to 614,000, on target with analyst predictions. Continuing claims surprisingly dropped to 6.7 million.

While construction companies, leisure and hospitality services, and manufacturers, among others are slashing jobs, two sectors seeing growth: health services and education.

The average hourly work week fell to 33 hours in June, the lowest since 1964. The current recession, according to economists, is now the longest since World War II.