U.S. | Job growth slows and participation rate falls in May

Nonfarm payrolls rose only 38K, the slowest seasonally-adjusted pace since September 2010. The unemployment rate fell to 4.7% as the participation rate declined from 62.8% to 62.6%. Weakness in payroll growth and the participation rate are not supportive of an immediate rate hike given the expected rise in economic uncertainty that may come from this report.

Authors

Geographies

Topics