Unemployment Rate Jumps to 5.5 Percent in May

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Unemployment Rate Jumps to 5.5 Percent in May
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.

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