U.S. Unemployment rate hits 9.4%
Politics, The Economy June 5th, 2009
More signs of the horrible economy here in the United States. USA Today reports that:
WASHINGTON — With companies in no mood to hire, the unemployment rate jumped to 9.4% in May, the highest in more than 25 years. But the pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September.
Still, the increase in the nation’s unemployment rate underscores the difficulties that America’s 14.5 million unemployed are having in finding new jobs.
If laid-off workers who have given up looking for jobs or have settled for part-time work are included, the unemployment rate would have been 16.4% in May, the highest on records dating to 1994.
