Jobless rate takes first significant jump in year

The nation's unemployment rate rose to 7.6 percent in May, the first significant increase in a year, reports the US Labor Department. Many forecasters are predicting continuing rises in the next 12 months to between 8 and 9 percent.

Unemployment had leveled off at about 7.3 percent, the April level, in late 1980 and early this year. Government and private economists saw in the monthly figures an indication of stability in the national economy. Unions had warned against such optimism in the face of the potential effect of Reagan administration budget cuts on jobs.

Increased layoffs in public service and construction and manufacturing industries in May pushed the jobless figure up. Layoffs, heaviest in auto and allied industries, affected primarily adult males -- the most employable group in the labor force. The jobless rate for men rose to 6.3 percent from 5.8 percent one month earlier. The figure for women rose from 6.6 percent to 6.8 percent. Blacks were 13.6 percent unemployed in May and teen-agers had 19.5 percent rate as school vacations began.

The Bureau of Labor Statistics reported that a total of 8,171,000 were jobless in May, an increase from 7,746,000 in April. Meanwhile, the number holding jobs rose by 259,000 to a total of 99,235,000.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK