Jobs creation slows dramatically with payrolls up
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Posted On: 06/07/2019 9:04:44 AM
Jobs creation slows dramatically with payrolls up just 75,000 in May, much worse than expected
PUBLISHED 32 MIN AGOUPDATED MOMENTS AGO
KEY POINTS
Nonfarm payrolls for May increased up by just 75,000, the Labor Department says.
Economists surveyed by Dow Jones expected a gain of 180,000.
March’s job count was revised lower from 189,000 to 153,000 and the April number was lowered to 224,000 from 263,000, for a total reduction of 75,000.
The unemployment rate remained at a 50-year low of 3.6%.
Average hourly earnings year-over-year in May were up 3.1%, one-tenth of a point lower than expectations.
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VIDEO01:23
US added 75,000 jobs in May, vs 180,000 expected
PUBLISHED 32 MIN AGOUPDATED MOMENTS AGO
KEY POINTS
Nonfarm payrolls for May increased up by just 75,000, the Labor Department says.
Economists surveyed by Dow Jones expected a gain of 180,000.
March’s job count was revised lower from 189,000 to 153,000 and the April number was lowered to 224,000 from 263,000, for a total reduction of 75,000.
The unemployment rate remained at a 50-year low of 3.6%.
Average hourly earnings year-over-year in May were up 3.1%, one-tenth of a point lower than expectations.
WATCH NOW
VIDEO01:23
US added 75,000 jobs in May, vs 180,000 expected
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