Unemployment Rate Rises To 8.2 Percent In May; Just 69,000 Jobs Added
The nation's unemployment rate rose to 8.2 percent in May from 8.1 percent in April as just 69,000 jobs were added to public and private payrolls, the Bureau of Labor Statistics said this morning.
Both numbers are disappointments. Economists had expected BLS would say the jobless rate was 8.1 percent and that payrolls expanded by at least 150,000 jobs.
We'll be adding to this post as we gather more data from the report, so hit your "refresh" button to be sure you're seeing our latest updates.
Update at 8:47 a.m. ET. A "Sputtering" Economy?
Here's how The Associated Press sums up the news: "The dismal jobs figures could fan fears that the economy is sputtering."
Update at 8:46 a.m. ET. Sharp Slowing From First Quarter:
According to BLS, in the first quarter the average monthly gain in payrolls was 226,000. But payrolls grew by just 77,000 in April and 69,000 in May.
Update at 8:44 a.m. ET. Number Of "Discouraged Workers" Remains High:
In another sign of the labor market's weakness, BLS says "there were 830,000 discouraged workers in May, about the same as a year earlier."
Update at 8:39 a.m. ET. Sharp Downward Revision Of April's Gain:
BLS initially thought payrolls grew by a net 115,000 jobs in April, but now says just 77,000 positions were added that month.