Despite about two trillion dollars pumped into banks and the general economy from the government, the United States’ economy continues to shed jobs.

The U.S. economy lost 467,000 jobs in the month of June. The number is demoralizing for those who thought that the recession may be nearing the end. The June job losses raise the unemployment rate to 9.5%.

When the Obama administration was lobbying Congress for its $787 billion stimulus packaged, the administration predicted during the January that unemployment would peak at 8%. Alas that has not been the case.

The New York Times:

For another month, manufacturing jobs disappeared, dipping by 136,000, while construction jobs shrank by 79,000 and retail by 21,000. Health care remained a rare bright spot, adding 21,000.

Since the recession began in December 2007, the U.S. economy has shed millions of jobs. At 9.5%, the unemployment rate is the highest in 26 years since August 1983.

Business Journals provides a breakdown of unemployment:

U.S. total: 9.5 percent

Men: 10 percent

Women: 8 percent

Whites: 9 percent

Blacks: 15 percent

Hispanics: 12 percent

Teenagers: 24 percent

Construction workers: 18 percent

Service workers: 10 percent

Corporate managers/white collar professionals: 5 percent

Source: U.S. Bureau of Labor Statistics

It is not surprising that African-Americans and Hispanics would record a higher than national average unemployment rate. Both communities are often disproportionately affected since many of them work in industries hard hit by the recession such as construction.

The very high teenage unemployment rate is also understandable since most teenagers work in services such as clothing stores and with people shopping less, shops have naturally laid off many workers.

It is a hard pill to sallow for those laid off that the people responsible for the recession - Corporate managers/white collar professionals - are the ones enjoying the lowest unemployment rate. They are the ones with the safest jobs and the ones to further fall on a largest stack of savings during bad times. What a cruel injustice. The men on Wall Street devastate families on Main Street, but they continue to keep their high-salaried jobs.

The new figures will only put more pressure on the Obama administration to more aggressively confront the nation’s woes.