Unemployment Rate Makes Biggest Jump in 20 Years

The unemployment rate rose from 5.0 to 5.5 percent in May, the U.S. Department of Labor reports. This loss of 49,000 jobs the biggest jump in unemployment since 1986, according to an Associated Press report.

Employment continued to fall in construction, manufacturing, retail trade, and temporary help services, while health care continued to add jobs.  Average hourly earnings rose by 5 cents, or 0.3 percent, over the month.

The number of unemployed persons increased by 861,000 to 8.5 million in May.