May's unemployment rate shot up to 9.4 percent, which is on the high end of what analysts had been expecting - and the highest level since August 1983. However, the separate payroll survey shows that the number of jobs lost last month - 345,000 - was well below the 525,000 decline that had been forecast. It also was the smallest drop since September 2008, when the recession intensified in the wake of the collapse of Lehman Brothers. (Reuters)