US generates paltry 38,000 jobs in May
[WASHINGTON] The US economy generated a paltry 38,000 net new jobs in May, a quarter of that expected, in a surprise report that could sway the Federal Reserve to refrain from raising interest rates.
But the Labour Department reported Friday that the overall US unemployment rate fell to 4.7 per cent from 5.0 per cent in April, based on data from a volatile household survey that showed a large fall in the size of the civilian labor force.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons