Labor Pains Continue as Job Growth Falls Off of a Cliff in May

June 1, 2012 in Uncategorized

Published June 01, 2012


  • U.S. Job Growth -- May 2012 (DO NOT USE FOR OTHER DATES)

Job growth braked sharply in May and the unemployment rate rose for the first time since June, putting pressure on the Federal Reserve to ease monetary policy further to shore up the sputtering recovery.

The Labor Department report on Friday, which showed employers added a paltry 69,000 jobs to their payrolls last month, the fewest since May last year, is also troubling news for President Barack Obama ahead of November’s elections.

The unemployment rate rose to 8.2 percent from 8.1 percent partly because people flocked into the labor market.

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