Economics
Sputtering Jobs Market Risks Damping U.S. Economic Expansion
- Payrolls rise in May at slowest pace in almost six years
- Report all but kills the chances of a June rate hike by Fed
Revisions Show Marked Labor Market Deceleration Trend
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The U.S. economy looks to be in danger of losing its main pillar as employers throttled back hiring in May to the lowest level in almost six years.
The slowdown -- payrolls rose by 38,000 after a downwardly revised 123,000 in April -- raised questions about the ability of consumers to keep spending at a good clip. It also cast doubts on Federal Reserve policy makers’ intentions to raise interest rates soon.