Employers Cut Jobs For Sixth Straight Month

WASHINGTON– Employers cut payrolls by 62,000 in June. It’s the sixth straight month of nationwide job losses, underscoring the economy’s fragile state.

The unemployment rate held steady at 5.5 percent.

The Labor Department’s new report today shows continued caution on the part of employers who are chafing under zooming energy prices and are uncertain about how long the economy will be stuck in a sluggish mode, reflecting fallout from housing, credit and financial troubles.