U.S. adds 69,000 jobs in May; jobless rate 8.2%
U.S. adds 69,000 jobs in May; jobless rate 8.2% (by Jeffry Bartash)
WASHINGTON (MarketWatch) - The U.S. added just 69,000 jobs in May, the smallest increase in a year, the government reported Friday. Economists surveyed by MarketWatch expected a 165,000 increase. The unemployment rate, meanwhile, rose to 8.2% from 8.1%, mainly because more people entered the labor force even as hiring slowed. The average workweek fell 0.1 hour to 34.4 in May, while average hourly earnings climbed 2 cents to $23.41. Employment gains for April and March were revised lower. The number of new jobs created in April was reduced to 77,000 from an original estimate of 115,000, while March's figure was trimmed to 143,000 from 154,000.