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US job growth brakes sharply; unemployment rate falls to 4.7%

Month-long Verizon strike affected employment growth by 34,000 jobs

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Us Job Growth

Reuters  |  Washington 

The US economy created the fewest number of jobs in more than five years in May, hurt by a strike by Verizon workers and a fall in goods producing employment, pointing to labour market weakness that could make it difficult for the Federal Reserve to raise interest rates. Nonfarm payrolls increased by only 38,000 jobs last month, the smallest gain since September 2010, the labour Department said on Friday. Employers hired 59,000 fewer workers in March and April. The government said the month-long Verizon strike had depressed employment growth by 34,000 jobs. The goods producing ...

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First Published: Fri, June 03 2016. 18:08 IST
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