Friday, May 03, 2002

Unemployment Jumps to 6%

NEW YORK - On Friday morning, the U.S. Department of Labor said the unemployment rate rose to a seasonally adjusted 6%, its highest point since August 1994. Yes, the top line is disappointing, especially for Wall Street economists who expected just 5.8%, but some of the internal numbers show promise for recovery. Both components of the employment data--household and business statistics--had some positives.
Forbes.com: U.S. Unemployment Jumps To 6%