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Unemployment Rate Remains Even Over Last Month

Unemployment Rate Remains Even Over Last Month

By Lauren Bayne Anderson

June 09, 2011

JUNE 2011 — Unemployment for the month of May remains at 8.7%— the same as April, according to the U.S. Bureau of Labor Statistics.

The economy did gain jobs in May —54,000 —but that’s down from a 232,000 gain in April.

Meanwhile, the number of Americans filing for first-time unemployment benefits rose again remaining above the 400,000 mark for the ninth week in a row. According to the Labor Department, there were 427,000 initial jobless claims filed the week ending June 4th.

The tough reality is there are fewer than 3 million job openings across the country today, but 4.6 unemployed people for every open position.

The four-week moving average of initial claims, 424,000, down 2,750 from the previous week’s revised 426,750—positive news – at least in the short term. However, the overall trend is showing an increase in unemployment long term.

Information compiled from the US. Bureau of Labor Statistics, CNN and Google.