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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 |
10/07/2025
The size of China's economy will exceed 140 trillion yuan ($19.5 trillion) this year, the head of the state planner said as policymakers look to steer the country beyond the current five-year policy
Kuwait Times
10/07/2025
Only "a couple" of officials at the Federal Reserve's June 17-18 meeting said they felt interest rates could fall as soon as this month, with most policymakers remaining worried to some degree about
Reuters
09/07/2025
The global sukuk market is poised to maintain its strength in 2025, with foreign currency-denominated issuances expected to reach between $70 billion and $80 billion, according to a new report by S&P
Arab News
08/07/2025
Stocks showed mixed performance on Monday, while the U.S. dollar remained near multi-year lows, amid market uncertainty related to potential changes in tariff policies. Officials indicated that updat
BNA
08/07/2025
The London Metal Exchange (LME) has recorded its highest quarterly volumes since 2014 thanks to the market turmoil that followed U.S. President Donald Trump's "Liberation Day" tariffs.
The L
Reuters
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