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LATEST US DATA

Job growth down sharply even as jobless rate falls

Nonfarm payrolls up by only 38,000 jobs in May, the smallest gain since September 2010

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A SAD TUNE: US employers hired 59,000 fewer workers in March and April. The government said the month-long Verizon strike had depressed employment growth by 34,000 jobs.

Washington

THE US economy created the fewest number of jobs in more than five years in May, hurt by a strike by Verizon workers and a fall in goods producing employment, pointing to labour market weakness that could make it difficult for the Federal Reserve to raise interest rates.

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