May Jobs Report Grim; Unemployment Rate Increases

According to the recent job report on the hiring front, companies hired less employees than expected in May. As indicated by CNN, merely 69,000 jobs were added last month and the unemployment rate increased to 8.2 percent.

Perhaps expectations are critical to these numbers since CNN Money surveyed economists who were hoping for 150,000 new jobs instead of 69,000. Plus, they anticipated the unemployment rate would have remained at 8.1