Friday, June 3, 2016

US hiring grinds to a near-halt; many stop looking for work

Via Billy

 Jorge Fernandez., Daniel Trimble, Mark Muller

 U.S. hiring slowed to a near-standstill in May, sowing doubts about the economy's health and complicating the Federal Reserve's efforts to raise interest rates.

While unemployment slid from 5 percent to 4.7 percent, the lowest since November 2007, the rate fell for a troubling reason: Nearly a half-million jobless Americans stopped looking for work and so were no longer counted as unemployed.

Employers added just 38,000 jobs in May, the fewest in over five years.

More @ AP 

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