The United States (US) economy added a scant 69,000 jobs in May, the lowest number in a year, and the unemployment rate rose to 8.2 per cent, the government said on Friday.
The dismal report signalled that the much hoped-for recovery in the job market has stalled and fuelled speculation that it may prompt the Federal Reserve to step in with a fresh round of economic stimulus.
The Labour Department\'s closely watched workforce figures were well below expectations of a 150,000 jobs increase and for the jobless rate to hold steady at 8.1 per cent from April.
\'Today\'s US employment report for May was bad,\' said Mr Jason Schenker at Prestige Economics. \'Financial markets are likely to remain very concerned about a slowing pace of job creation.\'
The dismal report signalled that the much hoped-for recovery in the job market has stalled and fuelled speculation that it may prompt the Federal Reserve to step in with a fresh round of economic stimulus.
The Labour Department\'s closely watched workforce figures were well below expectations of a 150,000 jobs increase and for the jobless rate to hold steady at 8.1 per cent from April.
\'Today\'s US employment report for May was bad,\' said Mr Jason Schenker at Prestige Economics. \'Financial markets are likely to remain very concerned about a slowing pace of job creation.\'