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June 25, 2009 at 08:00 PM
Overall Employment
As a testament to how poorly the U.S. job market has been for the last year or so, it is considered good news when only 345,000 jobs are lost!
This May change was the smallest decline since last September, and the forecast had been for a loss of half a million jobs.
These factors, coupled with an upward revision of 82,000 jobs for March and April, was enough to spur hopes that the economy will begin to expand in late 2009.
The unemployment rate continued to climb reaching a 26-year high level of 9.4 percent.
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