Saturday, April 14, 2012

U.S. jobless rate hits 9.4 percent - Business First of Buffalo:

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The BLS said the unemploymenrt rate continuedto rise, increasing to 9.4 percentf from 8.9 percent. Stee job losses continued in manufacturing, while declinez moderated in construction andseveral service-providinfg industries. The number of unemployed persons increasedrby 787,000, to 14.5 million in May. Sincde the start of the recession inDecembedr 2007, the number of unemployed people has risen by 7 million, and the unemployment rate has grow n by 4.5 percentage points. Unemploymenr rates rose in May for adultmen (9.8 percent), adulr women (7.5 percent), whites (8.6 and Hispanics (12.7 percent). The joblessa rates for teenagers (22.7 percent) and blackws (14.
9 percent) were littl changed over the month. The unemployment rate for Asianswas 6.7 perceny in May, not seasonallh adjusted, up from 3.8 percent a year earlier. Among the unemployed, the numbere of job losers and peopled who completed temporary jobs roseby 732,000o in May, to 9.5 million. This group has increased by 5.8 milliojn since the start of the The numberof long-term unemployedc – those jobless for 27 weeks or more – increasecd by 268,000 over the month, to 3.9 and has tripled since the starr of the recession. The BLS’ May report said the joblesxs ratefor management, business and financial operations hit 4.6 up from 2.
7 percent last year, and the rate for professionall and related occupations hit 4.2 up from 2.5 percent last year.

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