According to the survey , last years identity theft losses to businesses and financial institutions totaled nearly $ 48 billion and consumer victims reported $ 5 billion in out-of-pocket expenses .
Identity theft cost businesses and financial institutions nearly $ 48 billion and consumer victims reported $ 5 billion in out-of-pocket expenses last year , according to the FTC .
The unemployment rate inched up one-tenth of a percentage point from April 's 6 percent to its highest since July 1994 .