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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 |
28/10/2025
HSBC Holdings said on Monday it will book a $1.1 billion provision in its third-quarter results after losing part of an appeal in a long-running lawsuit tied to Bernard Madoff's Ponzi scheme.
Khaleej Times
28/10/2025
UK finance minister Rachel Reeves said on Monday she was confident a trade deal with Gulf countries can be done quickly after she had "really good" meetings in Riyadh about an agreement that could he
Reuters
28/10/2025
Social media giant Meta launched on Monday posts that are automatically archived 24 hours after being uploaded, dubbed "ghost posts," on its Threads app, mimicking a popular feature available on its
Reuters
27/10/2025
US President Donald Trump and Malaysian Prime Minister Anwar Ibrahim signed a trade agreement on Sunday, boosting US access to critical minerals as China tightens controls on rare earths.
Be
AFP
27/10/2025
Top Chinese and U.S. economic officials on Sunday hashed out the framework of a trade deal for U.S. President Donald Trump and Chinese President Xi Jinping to finalize that would pause steeper Americ
Reuters
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