The May jobs report shows dismal growth, with just 69,000 jobs added to the economy last month. The unemployment rate ticked up to 8.2% from 8.1% in April. The rate's increase is attributed to an uptick in people looking for work.
Meanwhile, planned layoffs are at an eight-month high, according to a new report by Challenger, Gray & Christmas, Inc. Employers announced the cutting of more than 61,000 this month, which is an almost 53 percent increase from April, when the figure was 40,559.