Friday, June 3, 2011

Nation's Unemployment Back Up, Job Uptick Comes to Standstill

Posted By on Fri, Jun 3, 2011 at 11:03 AM

Any hopes of a stronger U.S. economy were tempered this morning when the Labor Department reported a major slowdown of hiring. After several months of steady job growth, hiring practically halted in May with a net total of only 54,000 non-farm payroll jobs added. That followed an increase of 232,000 jobs in April.

Ultimately, the unemployment rate has gone up again to 9.1 percent from 9.0 percent in April. Idaho unemployment rate stands at 9.6 percent. April's numbers are expected to be released in two weeks.

Today's disappointing national employment numbers sent markets tumbling, with oil prices and bond yield declining.

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