U.S. employers add 75,000 jobs, below expectations
The unemployment rate remained at 3.6 percent in May, and the number of unemployed persons was little changed at 5.9 million, according to the Department of Labor’s Friday report. This is the lowest rate in almost 50 years (since 1969). And it marks the 15th consecutive month where the rate has been at or below 4 percent.
The U.S. economy added only 75,000 non-farm payrolls in May. This was below expectations for 175,000 nonfarm payroll additions, based on Bloomberg-compiled estimates.
“The economy slowed more than expected during May 2019 with the addition of 75,000 new jobs, down from a revised 224,000 in April,” said Elizabeth Norton, managing research director of Transwestern, in a statement. “This is below the average monthly gain of 164,000 jobs since the start of the year. Weakness was felt within the state and local government sector with a loss of 19,000 jobs. The retail sector s