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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 |
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Asharq Al Awsat
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AFP
25/11/2025
Like everyone else, policymakers at the Federal Reserve are increasingly obsessed with artificial intelligence and its promise of a turbocharged economy. They're just not ready to make a big call tha
Bloomberg
Financial Information Co.
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