Jobless rate hits 9.4 percent in May
Jobless rate hits 9.4 percent in May; layoffs slow
In May, the U.S. unemployment rate reaches 9.4 percent, 0.5 percent higher from April. Since December 2007 the US has lost a total of 6 million jobs including 345,000 jobs in May- the fewest since September. Industries that have increased employment have been education, heath care, leisure, and hospitality. Payroll job losses slow down and this trend is expected to continue throughout the year. The average work week fell to 33.1 hours in May, the lowest since 1964. There were 3.9 million people out of work for 6 months or longer.
Numbers of positions that were cut by industries (May-April 2009 comparison)
|
Industries |
May 2009 |
April 2009 |
|
Construction |
59,000 |
108,000 |
|
Factories |
156,000 |
154,000 |
|
Retailers |
17,500 |
36,500 |
|
Financial activities |
30,000 |
45,000 |
|
Government |
7,000 |
92,000 |
SF Gate- 6/5/2009