Big jump in jobless

May's unemployment rate shot up to 9.4 percent, which is on the high end of what analysts had been expecting - and the highest level since August 1983. However, the separate payroll survey shows that the number of jobs lost last month - 345,000 - was well below the 525,000 decline that had been forecast. It also was the smallest drop since September 2008, when the recession intensified in the wake of the collapse of Lehman Brothers. (Reuters)


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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