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Unemployment rate rises in May

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The U.S. unemployment rate increased from 8.1 percent to 8.2 percent in May as employers added 69,000 jobs—the fewest in a year, according to The Washington Post.

Additionally, the economy created fewer jobs during the previous two months than originally reported; revised figures show 49,000 fewer jobs created. The economy is averaging 73,000 jobs per month during the past two months—about a third of the 226,000 jobs created per month during the January-March quarter.

In May, the transportation and warehousing sector added 36,000 jobs; health care sector added 33,000 jobs; manufacturing sector added 12,000 jobs; construction sector cut 28,000 jobs; and professional and business services, retail, government, financial and mining sectors basically were unchanged.

There currently are 12.7 million unemployed people in the U.S.


6/4/2012

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