Unemployment Rate Rises to 8.2 Percent

The U.S. unemployment rate inched up to 8.2 percent in May, with the U.S. adding just 69,000 jobs in May, according to the Bureau of Labor Statistics. It is the weakest jobs report in a year and added far fewer jobs than the two months prior, leaving many wondering if the economy was sputtering. Economists blamed Europe's spiraling crisis and a slowing of Chinese growth for the low factory activity. Analysts say the economy needs to add 125,000 jobs a month to keep the unemployment rate steady. The stock market took a tumble on Friday after the weak jobs report, dropping over 200 points by midday and erasing all of 2012's gains.