U.S. Unemployment Rate Now 9.4 Percent
In May across the nation, 345,000 jobs were lost, worsening the U.S. unemployment rate to 9.4 percent, according to data released today by the Department of Labor.
There are now 14.5 million jobless U.S. workers, a number that doesn’t reflect the severity of the problem. If those who are underemployed or who want a job but have given up looking are counted, the broader U.S. unemployment rate stands at 16.4 percent—more than
25 million Americans who need jobs or full-time work but cannot find it.
The number of long-term unemployed (those jobless for 27 weeks or more) increased by 268,000 over the month to 3.9 million and has tripled since the start of the recession in December 2007.
