Job Market Not Rising According to Economists Predictions

The May jobs report showed a gain of only 54,000 jobs, compared to economists’ expectations of 170,000. The official unemployment rate is now 9.1%. This news affected stocks negatively on Friday. May’s results are coming in after three previous months of stronger job growth. The economy needs to add at least an estimated 150,000 jobs per month to keep up with population growth. Many sectors are experiencing job cutbacks.

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Job market stumbles