UNEMPLOYMENT UP: Labor Force Grows In May
Despite adding more jobs than expected, the U.S. unemployment rate rose in May.
The Labor Department reports the unemployment rate increased 0.1 percent in May to 7.6 percent.
They say employers have continued to create jobs at a steady pace, adding 175,000 jobs, but more people entered the labor force in May than previous months.
Economists say this is a good sign and signals the economy has withstood the effects of higher taxes and federal budget cuts.