Unemployment Jumps to 9.4 Percent, Highest Level Since August, 1983

The nation's unemployment rate climbed in May to 9.4 percent, the highest it's been since August of 1983. The Labor Department this morning announced that another 345,000 Americans lost their jobs last month, pushing the unemployment rate up from 8.9 percent in April. Economists had expected a loss of 550,000 jobs and the news that significantly less were lost initially shot the stock market up. The percentage of people without jobs in this country is now at the highest point in nearly 26...Full Story
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