Pace of U.S. Hiring Slowed in May With 54,000 Jobs Added; Unemployment Rate Up to 9.1%
After several months of strong job growth, hiring slowed sharply in May, raising concerns once again about the underlying strength of the economic recovery, the Labor Department reported on Friday. The United States added 54,000 nonfarm payroll jobs last month, following an increase of 232,000 jobs in April.
The unemployment rate increased to 9.1 percent from 9.0 percent the previous month. While any job gains at all are welcome, the pace of job growth thus far has been too slow to reverse much of the damage wrought by the Great Recession, which has left more than 13 million unemployed workers in its wake.
For the last few months economists had been predicting that the economy was finally gathering steam and that a sharper bounce-back was imminent, only to be disappointed again and again.