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Stocks tumbled Friday after the Labor Department said hiring remains weak and Hungary became the latest European country to report its economy is in crisis.
In today’s job market, many good-paying jobs are being lost but aren't being replaced. As a result, some workers are finding they need more than one job to make ends meet.
Americans' outlook on the economy went into relapse in February. Rising job worries sent a key barometer of confidence to its lowest point in 10 months.
The social safety net was built for short-term gaps between jobs, but work may be scarce for years, even as the American economy shows signs of a rebound.
President Barack Obama will lay out policy proposals to combat double-digit unemployment in a speech on Tuesday tackling an economic problem that has become a political drain on his young administration.
Vice President Joe Biden said the Obama administration "misread how bad the economy was" but stands by its stimulus package and believes the plan will create more jobs as the pace of its spending picks up.
In June, 467,000 jobs are lost; analysts had predicted 350,000. Despite positive signs for the economy in recent weeks, the report is evidence that the jobs market remains troubled.