Payrolls Drop by 125K, Jobless Rate Falls

A wave of census layoffs cut the nation's payrolls in June for the first time in six months, while private employers added a modest number of jobs. The unemployment rate fell to 9.5%, its lowest level in almost a year. The Labor Department says employers cut 125,000 jobs last month, the most since last October. The loss was driven by the end of 225,000 temporary census jobs. Businesses added 83,000 workers to their payrolls, an improvement from May. The unemployment rate fell as more people out of work gave up on their job searches and left the labor force. People who are no longer looking for work aren't counted as unemployed. (Copyright 2010 by The Associated Press. All Rights Reserved.)