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US Non-Farm Payrolls Barely Gain 38K in May, Weakest Since Sep 2010
US economy added only 38,000 new jobs in May, the weakest performance since September 2010, the Labor Department said Friday. This reading is well below expectations of a 164,000 gain.
Revisions showed employment gains for April and March were revised down by a combined 59,000 jobs.
The unemployment rate however, fell to 4.7% in May from 5.0% in April. Expectations were for a 4.9% rate.
Meanwhile, average hourly wages climbed 0.2% to $25.59. Hourly pay rose 2.5% from May 2015 to May 2016.
