The jobless rate held steady at 3.6%—a near 50-year low—and wages were up 3.1% on the year
Employers tapped the brakes on hiring in May, signaling companies are taking a more cautious approach at a time of slowing global growth and trade tensions and adding to other signs of slowing U.S. economic growth this spring.
The economy added 75,000 jobs in May, marking the 104th straight month of gains, but pulling back from two months of stronger hiring, the Labor Department said Friday. The jobless rate held steady at 3.6%, a near-50-year low.
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Economy added just 75,000 jobs in May, amid ongoing trade tensions and global economic slowdownFriday's labor report is likely to cement market expectations that the Fed is preparing to cut interest rates later this month.
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US economy added only 75,000 jobs in MayThe US economy added only 75,000 jobs in May, a surprisingly low number that was well below what experts had predicted. But the unemployment rate remained at 3.6%, meaning joblessness is still hovering near a half-century low.
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