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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 |
05/01/2026
Global investors are facing a fresh surge in geopolitical risk after the US capture of Venezuelan President Nicolas Maduro, a move that could unlock the nation's vast oil reserves and boost risky ass
Reuters
04/01/2026
Chinese automaker BYD surpassed Tesla in full-year electric vehicle sales for the first time in 2025, securing its position as the world's largest electric vehicle seller, according to a Global Times
Times of Oman
04/01/2026
Syria started the process of circulating new currency bills on Saturday as the crisis-hit nation seeks to stabilize the economy as it recovers from the fall of Bashar Assad's government.
A d
Asharq Al Awsat
04/01/2026
Bitcoin surged back above the $91,000 mark over the weekend, extending an early-year rebound as a sudden geopolitical jolt out of Venezuela injected volatility into global markets and set off a wave
Khaleej Times
30/12/2025
A see-saw year for the US economy in 2025 looks set to give way to a stronger 2026 thanks to tailwinds from President Donald Trump's tax cuts, less uncertainty around tariffs, the ongoing artificial
Reuters
Financial Information Co.
Saudi Arabia