US Jobless Rate Rises Slightly; Job Creation Weaker Than Expected

Posted June 1st, 2012 at 9:00 am (UTC-5)
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The U.S. unemployment rate increased slightly (by one-tenth of a percentage point) to 8.2 percent in May.

Friday's report from the Labor Department also shows that the U.S. economy had a net gain of just 69,000 jobs, which is much less than most economists had predicted.

Economists say job gains are needed to give consumers the confidence they need to make purchases, and to encourage businesses to make investments that lead to new hiring.

Slowing growth in China and Europe's economic problems have hurt U.S. hiring by cutting demand for American-made exports.