
WASHINGTON, June 5 (UPI) -- The U.S. unemployment rate jumped to 9.4 percent in May, exceeding economists' expectations by 0.2 percent, the U.S. Labor Department said Friday.
The nation lost 345,000 non-farm jobs in May, about half the monthly average of the past six months, but the number of unemployed reached 14.5 million in the month. Since the recession began in December 2007, the number of unemployed has nearly doubled, rising by 7 million, the department said.
Wages remained unchanged in May, while the average weekly hours worked declined by 0.1 hours to 33.1 hours per week.
The employment picture now includes 3.9 million people unemployed for at least 27 weeks, triple the number of long-term unemployed at the start of the recession.
Among adult men, the unemployment rate is 9.8 percent. Among adult women, the rate is 7.5 percent.
The unemployment rate for whites is 8.6 percent. For blacks the rate is 14.9 percent. Among Hispanics, 12.7 percent are unemployed, the department said.
| Additional Business News Stories | |
TEGUCIGALPA, Honduras, Feb. 9 (UPI) --
Honduras is inching back toward economic recovery and sees more international tourism as a way out of the crisis triggered by its June 2010 coup.
|
HILLSBORO, Ore., Feb. 9 (UPI) --
Solar panels generating a total of 1.3 megawatts of power are installed at a U.S. Navy facility and ready to begin their first full year of operation.
|
With rental vacancy rates at their lowest levels in 10 years, a review of TransUnion's proprietary rental screening database found that rental prices remained about the same between the fourth quarters of 2010 and 2011....
|
Government officials are on the verge of an agreement worth as much as $26 billion with five major banks, capping a yearlong push to settle federal and state probes of alleged foreclosure abuses by lenders.
|
| Stories | Photos | People | Comments |
View Caption