Payrolls in U.S. Rose 175,000 in May, Unemployment 7.6%
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American employers took on more workers than forecast in May as the world’s largest economy weathered the impact of higher taxes and federal spending cuts.
Payrolls rose 175,000 after a revised 149,000 increase in April that was smaller than first estimated, Labor Department figures showed today in Washington. The median forecast in a Bloomberg survey called for a gain of 163,000. The unemployment rate climbed to 7.6 percent from 7.5 percent as a surge in the number of people entering the labor force swamped the number of positions available.