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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 |
09/05/2025
US and Chinese officials meet this weekend in Geneva for their first formal talks aimed at resolving a grueling tit-for-tat tariff war that threatens hundreds of billions in trade and roiled global m
Asharq Al Awsat
09/05/2025
The "breakthrough" US-UK trade deal announced Thursday by President Donald Trump is the first agreement to be unveiled since he slapped steep tariffs on allies and adversaries alike on April 2.
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AFP
09/05/2025
The Federal Reserve held interest rates steady on Wednesday but said the risks of higher inflation and unemployment had risen, further clouding the US economic outlook as its policymakers grapple wit
Reuters
08/05/2025
The US Federal Reserve held its interest rates on Wednesday, as the US central bank continued to pause as officials say they want a clearer picture of the US economy's direction before deciding their
Khaleej Times
07/05/2025
Egypt's non-oil private sector contracted further in April according to S&P Global, while Lebanon saw its economic decline slow across the month.
The north African country's Purchasing Manag
Arab News
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