“You would need to be producing 150,000 to 200,000 jobs a month to be making a dent in this,” Doug Roberts told The New York Times, who is a chief investment strategist for Channel Capital Research, talking about the unemployment rate.
The unemployment rate fell to 9.7 percent from 9.9 percent in April, the department reported.
The rate of “underemployment,” those working part-time jobs who have a challenge finding full-time positions, fell to 16.6 percent in May from 17.1 percent.
The results represent the fifth consecutive month of positive job growth for the Obama administration.
According to the report, 15 million people were unemployed in May.
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