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August 12, 2009

Unemployment Rate at 26 Year High

Filed under: General HR Buzz — Tags: 7:21 am

According to the Bureau of Labor Statistics, the U.S. unemployment rate increased from 8.9% in April to 9.4% in May.   That’s the highest rate since 1983.  Extensive job losses were found in manufacturing (vehicles and parts), machinery, and fabricated metal.   Significant losses also occurred in financial and business services.  Health care was a bright spot, as employment in this sector continues to increase.

Unemployment rates reported for various groups include:   adult men (9.8%) vs. adult women (7.5%), Asians (6.7%), whites (8.6%), Hispanics (12.7%), and blacks (14.9%).  Teen unemployment was 22.7%.

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