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Unemployment Rate Jumps to 5.5 Percent in May

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Unemployment Rate Jumps to 5.5 Percent in May
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.

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yesteryear yesteryear 9 years
as the resident economist 'round here i'll just say that i am not surprised by these numbers. at times an unemployment rate increase can indicate uncertainty in those who are looking for jobs. people who've been unemployed for a while might have thought they'd be able to find something right away but now might be signing up for benefits now because the job market is pretty tough. as with all numbers - they can be interpreted a variety of ways.
tiff58 tiff58 9 years
I saw this on the news just a little while ago. So scary, and it makes me sad because my dad is one of them. Cine, I'm really sorry. I hope that you find something really soon.
cine_lover cine_lover 9 years
Thanks ladies! I knew it was coming. I am actually glad it was me and not someone with a mortgage and a child. I have neither, so it is what is best. Now I just need to figure out how to pay for my wedding :ponder:
bellaressa bellaressa 9 years
Sorry Cine-I wish you luck in your new search!
CitizenSugar CitizenSugar 9 years
Oh cine, I'm sorry! But I hope you find something even better. And we'll be happy to have you around here more!
cine_lover cine_lover 9 years
I am unemployed as of Monday. Guess even more Citizen time ;)
CitizenSugar CitizenSugar 9 years
The story was that the private sector added 30,000 jobs, which yes, it counter-intuitive and confusing but the unemployment rate is a different stat. Nice connection though! Points for reading comprehension!! :strong:
raciccarone raciccarone 9 years
Wasn't there a report two days ago stating the unemployment figures dropped?
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