U.S. Jobless Rate Spikes to 5.5 Percent

WASHINGTON (AP) -- The U.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. "It was ugly," said Richard Yamarone, economist at Argus Research. Struggling With the Economy? What can ABC News do or tell you that would help you...Full Story
Commenting on this article is closed.