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Friday, June 1, 2012

Unemployment rises to 8.2%; only 69,000 jobs added

The recovery in the US jobs market hit a wall in May as the economy added a paltry 69,000 jobs and the unemployment rate rose to 8.2%, the first rise in nine months.

May's figures are the third set of disappointing numbers but the latest report from the labour department contained more worrying news. The gain was the smallest in a year. April's gain of 115,000 jobs was revised down to an increase of 77,000.

A broader measure of unemployment, the U6, rose to 14.8% in May from 14.5% in April. The U6 takes into account job seekers as well as those working part-time who want to work full-time jobs. (Continues)

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