| Publication date: 6/16/2009; 10:13:00 PM GMT. A homeless man walks past a furniture store that is going out of business in Los Angeles on June 16, 2009. US President Barack Obama said that unemployment was expected to hit 10 percent this year as companies cut payrolls to cope with prolonged recession. The latest Labor Department's monthly report, seen as one of the best indicators of economic momentum, offered conflicting signals about a weak labor market, but suggested that the pace of massive job cuts appeared to be easing. Some 345,000 non-farm jobs were shed in May -- much lower than the 520,000 expected and about half the monthly decline of the past six months. AFP PHOTO/Mark RALSTON |
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