Unemployment in U.S. hits 22-year high

2008 June 7
by Doobybrain

may-2008-unemployment

So, college grads, how’s that job-hunt going? :O

From The New York Times:

The unemployment rate surged to 5.5 percent in May from 5 percent — the sharpest monthly spike in 22 years — as the economy lost 49,000 jobs, registering a fifth consecutive month of decline, the Labor Department reported Friday.

Man, I am glad for once that I’m still in school (although I know that doesn’t really solve any of my problems regarding this).

Oh yeah, and the US dollar is getting weaker.
And oil and gas aren’t getting cheaper (they’re getting more expensive).
Lastly, I love cats.

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1 Comment leave one →
2008 June 8
Pete

Not to be nitpicky but the highest % change month over month in 22 years, not the highest unemployment %… 5.5% is still relatively. Even in the past 10 years i believe that unemployment spiked over 6% around 2003 and that’s nowhere near the recessions of the past… what is considered full employment has unemployment numbers around 3-5% (depending on who you’re asking…)

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