Friday June 6, 9:53 am ET
By Jeannine Aversa, AP Economics Writer
Unemployment rate jumps to 5.5 percent in May, biggest rise since 1986; payrolls cut again
WASHINGTON (AP) -- The nation's unemployment rate jumped to 5.5 percent in May -- the biggest monthly rise since 1986 -- as nervous employers cut 49,000 jobs.
The latest snapshot of business conditions showed a deeply troubled economy, with dwindling job opportunities in a time of continuing hardship in the housing, credit and financial sectors.