New York's unemployment rate jumped by 0.5 percentage points in May, according to the state Labor Department.
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Unemployment climbed from 4.7 percent in April to 5.2 percent in May, the largest month-over-month increase since January 1991, the department said today. May's figure was 0.7 percentage point shigher than in May 2007.
"New York State experienced a lower private sector job count and higher unemployment rate in May 2008," said Peter A. Neenan, director of the Division of Research and Statistics. "These developments reflect, in large part, deteriorating labor market conditions in the nation as a whole, which has seen six consecutive months of private sector job declines and an upward trend in the U.S. unemployment rate."
Unemployment in the Capital Region experienced a similar jump, from 4.4 percent in April to 4.8 percent in May, compared to 3.6 percent in May 2007.