USA employment grows less than expected

May jobs report: Hiring slowed down in May, just 75,000 jobs added

A Ball State University economist says the new jobs report confirms the Federal Reserve's decision to end rate hikes. But the number was also above the 27,000 jobs estimated by the ADP National Employment Report.

Last week, President Trump acknowledged he would impose a tariff on all goods from Mexico to are attempting and force Mexican authorities to cease Central American immigrants from crossing the U.S. border. "It definitely looks like we've downshifted in the pace of job growth", said Mr Michael Feroli, chief United States economist for JPMorgan Chase & Co.

As the world's largest economy nears its longest-ever expansion in July, the employment report may amplify rhetoric that Fed rate cuts are needed to support growth.

Economists predicted 180,000 jobs would be added and that wage growth would rise to about 3.2%, according to The Wall Street Journal. Jobs gains for the previous two months were also revised downward by 75,000.

The unemployment rate meanwhile held steady at 3.6 percent, matching April's level, which was the lowest since 1969. The unemployment rate for both months is 3.6%. A separate report from the Fed showed that factory output fell 0.5 per cent in April.

Fed chairman Jerome Powell acknowledged on Tuesday that the central financial institution used to be carefully monitoring the implications of the change tensions on the financial system and would "act as applicable to shield [economic] expansion".

Markets were in turmoil in the fourth quarter of 2018 when the Fed was forecasting two rate hikes for 2019, noting strong growth in jobs and wages nationwide. For the year ending in April, wages rose by an average of 3.2%.

USA job growth likely increased solidly in May, with wage gains expected to pick up, showing strength in the labour market before an escalation in trade tensions that analysts have cautioned could pressure an already slowing economy.

Cardillo said trade tensions may have made companies more hesitant to hire.

The average hourly wage grew 3.1% in the past year, above the cost of living but well below the 4% growth experienced during the economic boom of the late 1990s.

Trump's trade wars have become a growing threat.

As stocks rallied, the bond market told a more pessimistic story, with investors bracing for a more severe downturn.

Ford Motor Co. said last month that it was cutting 7,000 white-collar jobs - about 10 per cent of its salaried workforce - as part of preparations for an industry driven more by electric and autonomous vehicles.

Over the past three months, job gains have averaged 151,000 per month.

People attend TechFair LA, a technology job fair, in Los Angeles, California, U.S., January 26, 2017.

"This slowdown in job growth somewhat offsets the benefits of lower mortgage rates, but we still expect modest growth in home sales and purchase-mortgage originations this year", he said.

Related news:

Hot News

isis-killer-beheading-video-story-top Mexican president visits Tijuana hours after USA tariff deal
Jun 11, 2019 - 00:35
He reiterated his confidence in reaching an agreement with the United States on the issue of tariffs. He now had full confidence that they "want to get the job properly done".

isis-killer-beheading-video-story-top Sand Fire Burning in Yolo County Sends Smoke Across Sweltering Bay Area
Jun 10, 2019 - 00:31
The shutoff is set to start early Saturday morning and continue at least through Saturday afternoon, PG&E said Friday evening. The state's electricity providers have been given authority to shut off power when fire risk is extremely high.

isis-killer-beheading-video-story-top Americans found dead in same Dominican Republic resort within 5 days
Jun 09, 2019 - 00:29
In some unspecified time in the future of the tournament and in the times that followed we offered our complete enhance to Mr. She says she called repeatedly for an ambulance but says they would only call for a doctor and it took more than 20 minutes.

isis-killer-beheading-video-story-top French Open Tennis 2019
Jun 09, 2019 - 00:27
I feel like I've played some really good tennis, some consistent tennis. She also had the advantage in each set, leading 5-3 in both. I'm a tennis player through and through.

isis-killer-beheading-video-story-top GMA T.50: McLaren F1 successor coming
Jun 09, 2019 - 00:26
Murray wants to make a three-seat hypercar with what appears to be a central driving position aping the layout of the F1. One of the most interesting differences between the F1 and the T.50 comes in the way they use active aerodynamics.

isis-killer-beheading-video-story-top Eden Hazard Pictured Posing With A Real Madrid Shirt
Jun 08, 2019 - 00:29
The Daily Mirror said the loss of a player of Hazard's quality would be keenly felt by the Premier League as a whole. The Spanish giants have always been linked with the Belgium worldwide , whose Chelsea contract expires next year.

isis-killer-beheading-video-story-top Kei Nishikori wins 5-set thriller, reaches French Open quarters
Jun 07, 2019 - 00:34
Then there were tough matches in two days followed by Stefanos Tsitsipas , who is really confident and playing well this year. If he wins the point, great, if he loses it Nadal would have been deprived the kind of baseline pattern he thrives on.

isis-killer-beheading-video-story-top Melania Trump Totally Copied Princess Diana While Meeting The Queen Today
Jun 07, 2019 - 00:32
Melania Trump is being mocked for wearing a cabin crew inspired look as she landed in the United Kingdom for the Trump family's offical state visit.

isis-killer-beheading-video-story-top RBI cuts interest rate by 25 bps, revises GDP growth to 7%
Jun 07, 2019 - 00:31
Two new cabinet committees were announced on Thursday to find ways to spur job creation and investment. The current policy repo rate is at 6 percent, while retail inflation stood at 2.92 percent in April.

isis-killer-beheading-video-story-top French Open glance: Keys, Kenin, Anisimova eye quarterfinals
Jun 06, 2019 - 00:46
Osaka suggested the pressure of entering Roland Garros as the world number one made it hard for her to play with the same freedom. She earned a fourth-round date with defending champ Simona Halep . "At least I can start trying to put the time in now".

isis-killer-beheading-video-story-top The other royal family? Trump adult kids take London
Jun 06, 2019 - 00:44
He added: "It was a private conversation, but clearly a private conversation that I shouldn't have had and won't have again". An anti-Brexit group "Led by Donkeys" used large-scale images projected onto London landmarks to protest Trump's visit.

isis-killer-beheading-video-story-top Zdeno Chara appears to have jaw injury, status unclear for Game 5
Jun 05, 2019 - 01:00
Boston Bruins defenseman Zdeno Chara had to leave Game 4 of the 2019 Stanley Cup Final after he took a puck to the face. So with Chara playing the role of muted spectator, the Bruins were yet again forced to play with just five defensemen.

isis-killer-beheading-video-story-top Trump Denies Calling Meghan Markle 'Nasty.' The Receipts Say Otherwise
Jun 05, 2019 - 00:57
Markle hasn't made a statement about why she won't be there, but she has made her dislike for the Donald very clear in the past. The expert pointed to the $71,000 dress the Duchess, 37, wore for her engagement photos with Prince Harry .

Huawei to sell undersea cable business amid trade feud with US
Jun 05, 2019 - 00:41
Hengtong Group's founder and owner Cui Genliang is the second-largest shareholder with 14.95%. The proposed transaction has been filed with the Shanghai Stock Exchange.

isis-killer-beheading-video-story-top Dragon Quest XII 'Development Preperation' Is Underway, Says Series Producer
Jun 04, 2019 - 00:53
The game's official website , translated by Gematsu , states that in Dragon Quest walk , "everyday life becomes an adventure". A worldwide release for Dragon Quest Walk has not been announced just yet, so we'll have to wait and see on that.