WASHINGTON, June 5 (Xinhua) -- The pace of job losses
in the United States slowed in May to 345,000, the fewest since September, but
the jobless rate climbed to 9.4 percent, the highest in more than 25 years, the
Labor Department reported Friday.
The May reading for job losses was not as deep as the
520,000 layoffs expected by economists, while the unemployment rat had been
forecast to rise to 9.2 percent.
Since the recession began in December 2007, the U.S
economy has lost a net total of 6 million jobs.
"This morning we received another reminder of the
challenges facing American families," said U.S. Vice President Joe Bide.
"There's also some signs of hope today in the report, and a few signs that our
actions to (put) the economy back on track are beginning to make some
difference."
"To sum it up: encouraging signs, but a long, long
way to go," said the vice president.
According to the Labor Department, the manufacturing
sector shed 156,000 jobs last month while construction industries axed 59,000
jobs. Retail trade employment fell by 18,000 over the month.
Professional and business services got rid of 51,000
jobs, and employment in the federal government shed 7,000 jobless over the month
after bulking up by 92,000 in April.
But leisure and hospitality firms added 3,000
positions, and health care employment grew by 24,000.
The Federal Reserve, which is the central bank of the
United States, has said that the nation's unemployment rate will remain elevated
into 2011. Many economists believe the labor market may not get back to normal
-- meaning a 5 percent unemployment rate --until 2013.