Jobless Rate Up: Only 69,000 Jobs Added in May

June 1, 2012 - 7:37 AM

Not what the White House -- or Americans -- wanted to hear:

The May jobs report, released moments ago, showed employers added fewer workers than expected last month, with nonfarm payrolls rising by only 69,000.

 

Economists had expected the economy to add 155,000 jobs in May. The 69,000 number less than a third of the 250,000 jobs economists believe are needed each month to maintain population increases.

 

The unemployment rate ticked up slightly to 8.2% from 8.1% in April.  The participation rate, defined by the Bureau of Labor Statistics (BLS) as the labor force as a percent of population, increased in May by 0.2 to 63.8%.

 

See more "Right Views, Right Now."