WASHINGTON (AP) -- The nation's unemployment rate jumped to 5.5 percent in May -- the biggest monthly rise since 1986 -- as nervous employers cut 49,000 jobs.
The latest snapshot of business conditions showed a deeply troubled economy, with dwindling job opportunities in a time of continuing hardship in the housing, credit and financial sectors.
"It was ugly," said Richard Yamarone, economist at Argus Research.
With employers worried about a sharp slowdown and their own prospects, they clamped down on hiring in May, said Friday's report from the Labor Department. The unemployment rate soared from 5 percent in April to 5.5 percent in May. That was the biggest one-month jump in the rate since February 1986. The increase left the jobless rate at its highest since October 2004.
http://biz.yahoo.com
1 comment:
Unemployemnt is up but you are not a stastistic and there are still thousands of 100K jobs offered. Try these sites:
http://www.realmatch.com
http://www.monster.com
http://www.careerbuilder.com
There is always hope if you TRY!
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