From Newsday.com: (found here.)
“The unemployment rate rose to 5.5 percent, from 5 percent in April, the biggest monthly increase since 1986. The rise surprised economists, who were forecasting an uptick to 5.1 percent.
The economy lost 49,000 jobs across a spectrum of businesses, including construction, manufacturing, retail and temporary-help services, the federal Bureau of Labor Statistics reported. Employers have cut payrolls for five straight months, but the latest cuts weren’t as deep as the 60,000 analysts were bracing for.”
(found here) ….”Oil prices jumped more than $11, approaching a record $140 a barrel. Earlier in the day, the Department of Labor released a startling figure: The nation’s unemployment rate in May climbed from 5 percent to 5.5 percent, the biggest one-month jump since 1986.”
Filed under: Tennessee | Tagged: depression, gerat depression, homeless, income gap, inflation, jobless, living wage, poverty, recession, record high oil prices, trickle down economics, unemployment |