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JAJobless Numbers Rise
June 6, 2008
A new report by the US Labor Department shows that the US economy lost nearly 50,000 jobs last month, an increase unexpected by most economists. The unemployment rate jumped to 5.5 percent from 5 percent, its biggest monthly rise in 22 years. Among the 8.55 million people who were unemployed in May, 1.55 million had been unemployed for 27 weeks or longer. The high numbers for May represent the fifth straight month that unemployment numbers were up. Economists predict that the trend will continue through the rest of the year.
