First jobs report headlines/summary : Job growth down
The economy created just 11,000 jobs in May, the government said Friday, which was far weaker than analysts' forecasts and may help convince the Federal Reserve to hold off on any increase in interest rates.
The Labor Department reported that the unemployment rate edged down to 4.2 percent in May, which was lower than forecasts. Hourly earnings rose 5 cents, which was stronger than forecasts.
[Hourly earnings starting to show signs of wage pressure ?]
08:30 MAY JOBS REPORT SHOWS ECONOMY MAY BE SLOWING.
08:30 CONSTRUCTION SHEDS 40,000 JOBS IN MAY.
08:30 RETAIL ADDS 17,000 JOBS IN MAY.
08:30 MAY PAYROLL GROWTH SLOWEST SINCE BLIZZARD OF JAN. 1996.
08:30 APRIL PAYROLLS REVISED TO 343,000 FROM 234,000 PREVIOUSLY.
08:30 MANUFACTURING LOSES 45,000 JOBS IN MAY.
08:30 MAY SERVICE-PRODUCING INDUSTRIES ADD 103,000 JOBS, LOWEST SINCE AUG. 97.
08:30 MAY GOODS-PRODUCING INDUSTRIES LOSE 92,000 JOBS.
08:30 MAY AVERGE HOURLY EARNINGS RISE 0.4% TO $13.19.
08:30 MAY UNEMPLOYMENT RATE FALLS TO 29-YEAR LOW 4.2%.
08:30 MAY PAYROLLS GROW 11,000, FAR BELOW 232,000 EXPECTED.
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