Jobs report: US unemployment hits 16-year low despite slower hiring
by Dominic Rushe in New York from Economics | The Guardian on (#2RM2Z)
- US adds 138,000 jobs, fewer than expected, as unemployment falls to 4.3%
- Federal Reserve poised to raise interest rates this month
The unemployment rate hit a 16-year low in May but the pace of hiring slowed as the economy added 138,000 jobs - well below expectations.
The Bureau of Labor Statistics announced on Friday that the unemployment rate had fallen to 4.3%, the lowest level since 2001, all but guaranteeing that the Federal Reserve will raise interest rates at its next meeting this month.
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