The U.S. unemployment rate rose to 6.4% as more than 600,000 people joined the labor force. The growth in the labor force is seen as a sign that people are becoming more optimistic about the economy. There is evidence that the economy is growing, but these gains in productivity have yet to be accompanied by the creation of new jobs. Job losses have been greatest at manufacturing firms.
See "Unemployment Rate Surges to 6.4 Percent", John M. Berry, The Washington Post, July 2, 2003