U.S. economy creates an anemic 38,000 jobs in May, likely stalling Fed interest rate

By Jim Puzzanghera in Los Angeles Times

June 3, 2016

Job growth ground nearly to a halt in May, with the U.S. labor market having its worst performance in more than five years, the Labor Department said Friday.

The economy added just 38,000 net new jobs last month, a steep falloff from April’s disappointing 123,000 and well below analysts’ forecasts. The huge decline in job creation makes it unlikely Federal Reserve policymakers will increase a key interest rate when they meet to assess the state of the economy later this month.

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