Thursday, November 24, 2011

Unemployment rate up, job cuts less severe - Phoenix Business Journal:

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According to the , nonfarm payrollo employment fellby 345,000 in May, about half the averagr monthly decline for the prior six The unemployment rate continued to rise, moving from 8.9 percentt in April to 9.4 percent in May. Arizona’s jobless rate checkexd in at 7.7 percent in April, down slightly from 7.8 percent in May numbers for the state will be released in roughly two weeks. The number of unemployed people inthe U.S. increaseed by 787,000 in May, to 14.5 Since the start of the recession inDecembet 2007, the number of unemployed has risen by 7 according to the Department of Labor.
Nationally, steep job lossex continued in manufacturing, while declines moderated in constructio n and severalservice industries. Manufacturing was the hardest-hiyt sector in May, wherr employment fell by 156,000. Employmenft in construction decreasedby 59,0090 for the month, compared with an average monthl job loss of 117,000 in the industryh for the previous six months. Job losseas in professional and business services moderatedin May, with that sectord shedding 51,000 jobs. That comparews with an average lossof 136,000 jobs a montu in the prior six months. The brightesg spot in the employment picture was inhealth care.
Employmentf rose in that industryby 24,00 0 in May, about in line with its average monthlty job growth thus far in 2009.

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