Unemployment rate rises in MayThe U.S. unemployment rate increased from 9 percent in April to 9.1 percent in May, according to The Washington Post. The increase is a sign that economic recovery is being slowed by high gas prices and Japan's natural disasters.
Employers added 54,000 jobs in May—the fewest in eight months. This is a dramatic change compared with the past three months, when the average pace was 220,000 new jobs per month. Private employers added 83,000 jobs—the fewest in almost a year.
The professional and business services sector added 44,000 jobs in May, and the health care sector added 17,000 jobs. The local government sector cut 28,000 jobs; retail sector cut 8,500 jobs; leisure and hospitality sector cut 6,000 jobs; and manufacturing sector cut 5,000 jobs. The construction sector was unchanged.
The number of unemployed people rose to 13.9 million in May.
Date : 6/3/2011