Layoffs still high as jobless claims rise

While last month's unexpected dip in the unemployment rate had some of us relieved, the job market is still clearly recovering. The rate of layoffs and jobless claims rising to 1.5M are proof.  1.54 million Americans applied for unemployment claims in early June alone, and 700,000 sought compensation via an emergency federal program. This indicates that the unemployment rate of May is not as rosy as we thought. Read the full report here.