Friday, June 6, 2008

Jobless rates jumps to 5.5 percent _ biggest rise since `86



WASHINGTON — 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.

The latest snapshot of business conditions showed a deeply troubled economy, with dwindling job opportunities in a time of continuing hardship in the housing, credit and financial sectors.

source

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