Unemployment Ticks Up to 7.6%

The unemployment rate ticked up a notch in May: It had been expected to remain at 7.5%, but instead went up to 7.6%, the Wall Street Journal reports. But, the AP notes, that's because more people are looking for work, which is a good thing. And while 169,000 new jobs were expected to have been created, today's jobs report revealed the very slightly sunnier number of 175,000. The Journal journos' take seems to be: not great, but also not terrible.

And perhaps a bit anticlimactic, considering CNBC earlier reported this could be the most important jobs report in years, one that could shape market expectations for months and even "clarify the Fed's next policy move." (But CNBC did note it could just reaffirm the status quo.) The AP thinks the Fed will continue its bond purchases based on these numbers. More less-than-exciting news: The jobs added in April and March were revised downward by 12,000. (More jobs report stories.)