Unemployment Rate Rises to 9.4% in May

June 5, 2009 by Matt Placek

According to the Bureau of Labor Statistics, unemployment rose in the month of May by 345,000 people. These job losses bring the unemployment average up from 8.9% in April to 9.4% for May.

The national unemployment rate continues to rise despite reports that the economy is improving. According to the Associated Press, this trend is common as recessions bottom out because many people that were not looking for work before tend to begin looking for work again on news of economic improvement. Another reason for the jump in the unemployment rate could be due to graduating high school and college students that began their job search in the month of May.

Although the layoffs and firings have slowed as compared to the last six months, many Americans remain underemployed, and those who are unemployed tend to remain that way for some time as employers are reluctant to hire new workers until they are certain that the economy has stabilized. The Bureau of Labor Statistics report on unemployment for May 2009 showed that the number of those who are long term unemployed (unemployed for 27 weeks or greater) has risen by over 5 million since the beginning of the recession.

The bureau also reports that over 7 million individuals have lost their jobs since December 2007 bringing the total to 14 million Americans without work.