CNBC Panel Ponders Jobs Report For June; ‘Any Way You Cut This Data, It’s Lousy’

June unemployment figures released this morning show unemployment rose to 9.2 percent, the highest rate since December, and analysts on CNBC were blunt: “any way you cut this data, it’s lousy.” The jobs data left the CNBC panel “stunned” and, as Rick Santelli described it, “we’re somewhere between a soft patch and a double dip.” The report dampened expectations many had about the recovery, and raised the possibility of a push for more stimulus to spur growth–and hiring.

The jobs report is already having an impact on the markets, with equity futures dropping sharply.

Watch it here, from CNBC:

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