Jul 2, 2009 3:49 pm US/Eastern
Newark Jobless Rate Surged To 13.5 Percent In May
NEWARK (CBS) ―
-
-
(File)
Chris Hondros/Getty Images
The U.S. Labor Department says the unemployment rate in New Jersey's largest city surged to 13.5 percent in May, the highest level in nearly six years. That compares to 9 percent for the same period a year ago and 12.7 percent in April.
City jobless data are not adjusted for seasonal variations, making year-ago comparisons more meaningful than comparisons to the preceding month.
Statewide, the unemployment rate was a seasonally adjusted 8.8 percent in May, the highest level since August of 1992. The U.S. adjusted jobless rate in May was 9.4 percent.
"Since the start of the recession in December 2007, the number of unemployed persons has increased by 7.2 million," according to the Bureau of Labor Statistics.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
TODAY'S MOST POPULAR STORIES
2009 Celebrity Deaths
Click to enlarge
Go! New York: Kettlebells Fitness 19 mins ago 
CBS 2 Preview: Back From The Dead 34 mins ago 
Massive Crib Recall Set, Sources Say 38 mins ago 
Stumble It!
Comments