In June, employers trimmed their payrolls for the sixth straight month, as the government’s closely watched report on Thursday showed continued weakness in the labor market.

CNN reports that, “the Labor Department reported a net loss of 62,000 jobs in the month. That matched the job loss figure for May, which was revised higher from 49,000. Economists surveyed by Briefing.com had forecast a loss of 60,000 jobs.

438,000 jobs were lost in the economy in June, but the unemployment rate stayed at 5.5%. Some Economists had forecast the rate would come in at 5.4% in the latest reading.

The Labor Department also said in a separate report that initial claims for unemployment insurance rose 16,000 to 404,000 in the latest week. Economist Robert Brusca of FAO Economics claimed the reading over 400,000 is a “classic recession signal.”

Even the more closely watched four-week moving average for initial claims neared that troublesome 400,000 benchmark by reaching 390,500 – the highest recorded level since the four weeks after Hurricane Katrina in 2005. Yet, the four-week average hasn’t been at or above the 400,000 mark since 2003.

According to CNN, “the job losses in the monthly report were concentrated in manufacturing and construction, two sectors that have been badly battered in the current economic downturn.

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