Unemployment jumps the most since 1986


	Unemployment jumps the most since 1986

ericskiff

6-6-2008 2:02 PM

1204 views

tags:

unemployment, economy, oil, us

ericskiff says:

I was wondering what sent the market tumbling.

The bigger news for me is that oil is up almost $10 in two days. That's huge! I woke up this morning and said "what's going on?!"

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The unemployment rate skyrocketed in May, the government said today, as employers cut more jobs.
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The jobless rate for the month was 5.5 percent, up from 5 percent in April, the Labor Department said. That was the largest swing in a single month since 1986. The result stunned economists, who had expected the rate to rise only to 5.1 percent. The report also said the number of jobs on employers' payrolls fell by 49,000.
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