Unemployment rises in May

The U.S. unemployment rate increased to 7.6 percent in May from 7.5 percent in April as U.S. employers added 175,000 jobs, according to USA Today. Economists were expecting to add 165,000 jobs.

Additionally, 420,000 people joined the labor force, which includes people working and looking for work.

Hiring in March and April was revised down by 12,000. March's job growth was revised up to 142,000 from 138,000, and April's job growth was revised down from 165,000 to 149,000.

In May, the professional and business services sector added 57,000 jobs; leisure and hospitality sector added 43,000 jobs; retail sector added 28,000 jobs; health care sector added 11,000 jobs; and construction sector added 7,000 jobs. The government sector lost 14,000 jobs.

The manufacturing, transportation and warehousing, and financial activities sectors basically were unchanged.

Economists expect monthly job growth to average 180,000 during the rest of the year, which is slightly below the average 200,000 pace from November 2012 through April.

There currently are 11.8 million unemployed people in the U.S.

Date : 6/14/2013


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