(ap) The government reports 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 last month. It was a dramatic sign of a deeply troubled economy. The Labor Department's new report released Friday showed employment conditions worsening, reflecting the damage from housing, credit and financial crisis.
Unemployment rate jumps to 5.5 percent in May. Biggest monthly rise since 1986.
June 06, 2008 by editor (View Source)
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