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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 |
27/03/2025
President Donald Trump signed a proclamation to implement a 25 per cent tariff on auto imports, expanding a trade war designed to bring more manufacturing jobs to the US and setting the stage for an
Bloomberg
26/03/2025
Oil prices were little changed on Tuesday as markets weighed the impact of newly announced US tariffs on countries that buy Venezuelan oil and the uncertain outlook for global demand.
Brent
Reuters
25/03/2025
Global energy demand saw an above-average annual rise of 2.2 percent in 2024, fueled by rising electricity consumption and growth in emerging economies, according to a new report.
Analysis b
Arab News
24/03/2025
Global economic growth is expected to average around 3.1 percent in the next five years, below the pre-pandemic level of 3.7 percent, according to an International Monetary Fund official.
Sp
Arab News
24/03/2025
Global borrowing hit a record $25 trillion in 2024, a $10 trillion surge from pre-pandemic levels, sparking concerns over sustainability, a new report showed.
The Organization for Economic C
Arab News
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