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03/06/2012 06:18 AST
The U.S. labor market stumbled in May as employers added the fewest workers in a year and the unemployment rate rose, dealing a blow to President Barack Obama's re-election bid and raising the odds the Federal Reserve will take steps to boost growth.
Payrolls climbed by 69,000 last month, less than the most- pessimistic forecast in a Bloomberg News survey, after a revised 77,000 gain in April that was smaller than initially estimated, Labor Department figures showed yesterday in Washington. The median projection called for a 150,000 May advance. The jobless rate rose to 8.2 percent from 8.1 percent.
"This is a total disappointment all the way around," said Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh. "Once again the job market and the economy looked stronger at the start of the year and come March, April, May, it certainly got a lot of drag on its forward momentum."
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Bloomberg
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
15/07/2025
Throughout the week leading up to US President Donald Trump's 30 percent-tariff threat on the EU, European officials and diplomats insisted they were closing in on a deal-right up until his letter la
AFP
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The new all-time high that Bitcoin, the world's largest cryptocurrency, hit on Monday signals a long-term structural shift in how digital assets are integrated into the global financial system, analy
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Bitcoin crossed the $120,000 level for the first time on Monday, marking a major milestone for the world's largest cryptocurrency as investors bet on long-sought policy wins for the industry this wee
Reuters
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Spiralling inflation in the Euro Area was finally stabilized last year after an unprecedented cycle of policy rate increases by the European Central Bank (ECB).
The most aggressive tightenin
The Peninsula
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