The government reported the U.S. lost 49,000 jobs in May as the unemployment rate rose by the largest amount since February 1986. The Labor Department reported the fifth consecutive month of declines in nonfarm payrolls. The decline was better-than-expected however, as economists had been expecting a 60,000 job decline for last month.
The unemployment rate, which is calculated separately by a survey of households, soared to 5.5% in May. Wall Street had only been expecting a slight rise to 5.1%. It's the highest the rate has been since October 2004.More at Fox Buisness
Also - Dow Drops 400 Points On Unemployment News - from KNBC.com
And - Oil's biggest day yet drags down stocks - From AP
1 comment:
Unemployemnt is up but there are still thousands of 100K plus 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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