Fri, June 01 2012 17:37
The US Department of Labor this morning released its May jobs report. While analysts expected to see 150,000 jobs created, only 69,000 new jobs were added for the month. Private sector jobs added amounted to 82,000, while public sector employment continued to fall by another 13,000 jobs for the month.
The US unemployment rate rose for the month from 8.1% up to 8.2%. Approximately 12.7 million Americans are still unemployed, and of that number, 42.8% have been unemployed for 6 months or more.