Employers Cut Jobs for Sixth Straight Month

Job seekers wait on line stretching around a block to attend the Monster.com and National Career Fairs job fair in New York, Wednesday May 28 , 2008. The nation's unemployment rate jumped to 5.5 percent in May, the biggest monthly rise since 1986, as nervous employers cut 49,000 jobs. (AP Photo/Bebeto Matthews)
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Washington (AP) 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.