The US unemployment rate rose to 5.5% in May after the economy lost 49,000 non-farm jobs, official figures show.

The latest report from the US Labor Department is another sign that the world's biggest economy is sliding towards recession, CzechRep to again send a reserve company to Kosovo ...
US new home sales at 16-year-low ...
US economic outlook 'worsening' ...
Brazil in 'major oil field' find ...
More US passport 'file breaches' ...
Firings over Obama file breach ... analysts said.

In recent months, the US Federal Reserve has been slashing interest rates in an attempt to stoke growth.

The worry is that a weak labour market will see consumers will rein in their spending, hurting corporate profits.

The May unemployment rate figure is more than analysts had expected.

For the job loss figures, analysts had expected between 30,000 and 58,000 posts to go.

In April, 28,000 non-farm jobs were lost surprising Wall Street by falling less than expected.

(BBC)

<< Back