Economy Only Adds 75k Jobs, 100K Less Than Expected

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The U.S economy added 75,000 jobs in May, the Labor Department reported Friday, falling short of expectations by nearly 100,000 jobs.


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Economists expected the U.S. to add roughly 185,000 jobs in May after a massive gain of more than 200,000 in April.

But employment growth fell well short of that mark last month, though the unemployment rate and labor force participation rate stayed even at 3.6 percent and 62.8 percent, respectively.

The Labor Department also revised down March’s gain from 189,000 to 153,000 jobs, and April’s from 263,000 to 224,000 jobs. The revisions shave 75,000 jobs off the books for 2019.

Read more at thehill.com

 

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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!