Friday, June 1, 2012

'Official' Jobless U3 Rate, 8.2%; U6 Rate, 14.8%; Jobless in Europe 11%

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From the NYTimes.com:

The United States economy gained a net 69,000 jobs in May ...   
a dismal showing that reflected mounting fears of a global slowdown.
The unemployment rate rose to 8.2 percent from 8.1 percent in April.

It was the third mediocre performance by the job market in three months, after a period of solid growth over the winter that raised hopes that the recovery was gaining momentum.

(Link: http://www.nytimes.com/2012/06/02/business/economy/us-added-69000-jobs-in-may-jobless-rate-at-8-2.html)

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From CNBC.com:

Labor force participation remains near 30-year lows though incrementally better than last month, rising to 63.8 percent.

The unemployment rate that counts discouraged workers rose as well, swelling to 14.8 percent form 14.5 percent in April.

(Link: http://www.cnbc.com/id/47643788)

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From the Bureau of Labor Statistics press release:

Among the major worker groups, the unemployment rates for adult men (7.8 percent) and Hispanics (11.0 percent) edged up in May, while the rates for adult women (7.4 percent), teenagers (24.6 percent), whites (7.4 percent), and blacks (13.6 percent) showed little or no change. 

(Link: http://www.bls.gov/news.release/empsit.nr0.htm)

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From Bloomberg.com:

Euro-Area Unemployment Reaches Record 11%, Led by Spain

Euro-area unemployment reached the highest on record as a deepening economic slump and budget cuts prompted companies from Spain to Italy to reduce their workforces.

The jobless rate in the 17-nation euro zone was at 11 percent in April and March, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. The March figure was revised higher to 11 percent from 10.9 percent estimated earlier.

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