Unemployment climbs back to 4.1%

Friday June 02 by Claudia bourneusatoday
In the most dramatic sign yet that the U.S. economy is slowing, the unemployment rate unexpectedly climbed back to 4.1% in May as American businesses lost 116,000 jobs, the worst showing in nearly nine years. The Labor Department reported today that the nation's unemployment rate climbed by 0.2 percentage points from a 30-year-low of 3.9% in April. The increase returned the jobless rate to the same 4.1% level it had reached in March. Overall payrolls rose by 231,000 in May, but all the strength occurred in government hiring of 357,000 temporary workers to conduct the census. However, American businesses cut 116,000 jobs during the month, the first monthly decline since January 1996 and the biggest decline since November 1991.





<< none >>

 



© copyright 2001-2006, created by Omniseek.