The nation's jobless rate rose to 9.4 % in May, the Bureau of Labor Statistics just reported, from 8.9 % in April.

Employers cut 345,000 from their payrolls.

We'll add more as the news comes in. Hit your "refresh" button to make sure you're seeing our latest additions.

Update at 11:15 a.m. ET. On Morning Edition, NPR's Jim Zaroli spoke with host Renee Montagne about the news. He said the report signals that the job market "is bad, but it's less bad than it has been." And, he said, it adds to signs that the recession may be nearing its end:

Update at 9:31 a.m. ET. Wall Street reacts — stocks rise at the opening:

The day's just getting started on Wall Street, obviously. But at the opening of trading, stock prices have risen.

Update at 9:06 a.m. ET. The lingering pain for many:

BLS says the number of people who've been out of work 15 weeks or longer rose to 7 million last month from 6.2 million in April. About 2.8 million people had been out of work that long in May 2008.

Update at 8:54 a.m. ET. From the "silver lining" department, the Associated Press notes that:

The much smaller-than-expected reduction in payroll jobs, reported by the Labor Department on Friday, adds to evidence that the recession is loosening its hold on the country. It marked the fourth straight month that the pace of layoffs slowed.

— Update at 8:51 a.m. ET. Nearly 6 million jobs disappeared in the past year:

Payroll employment has dropped from 138.2 million in May 2008 to 132.7 million last month, BLS says (both numbers are not seasonally adjusted).

— Update at 8:48 a.m. ET. Number of unemployed tops 14.5 million:

Digging further into the BLS' numbers, they show that last month 14.5 million people were classified as unemployed — up from 13.7 million the month before.

Update at 8:41 a.m. ET. Recent peak was 10.8% in 1982:

— The last time the jobless rate was above 9% was in 1983, when the economy was emerging from one of the deepest recessions of the post-war era.

During that downturn, the unemployment rate peaked at 10.8% in November and December, 1982, BLS records show.

Update at 8:34 a.m. ET:

— BLS notes that the 345,000 lost jobs is "about half the average monthly decline for the prior 6 months."

— The 9.4% jobless rate, though, puts that figure at the highest point it's been in more than 25 years.

— And if so-called discouraged workers are added to the mix, the jobless rate hits 16.4%. Discouraged workers are those who've given up looking because they don't think there's any chance of landing jobs.

Trying to follow the economy's ups and downs? So is Planet Money.