Economy

Job creation disappointed again in May, with nonfarm payrolls up a solid 559,000 but still short of lofty expectations, the Labor Department reported Friday.

Payrolls were expected to increase by 671,000, according to economists surveyed by Dow Jones.

The unemployment rate fell to 5.8% from 6.1%, which was better than the estimate of 5.9%.

May’s letdown came after April sharply undershot expectations, with the upwardly revised 278,000 still well short of the initial 1 million estimate that came with high hopes for an economy trying to shake loose its pandemic shackles.

This is breaking news. Please check back here for updates.

Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign up to start a free trial today.

Articles You May Like

Market Calm Restored After Middle East Tensions Subside
Gold price tumbles as easing Middle East tensions dent safe-haven demand
Gold Price Today: Yellow metal opens at Rs 72,085/10 grams, while silver at Rs 82,194/kg
Gold falls by Rs 1,284 at Rs 71,522/10 gm, silver at Rs 81,189/kg
I am buying this dip, IMHO, at TSLA stock before its earnings tommorrow. Here’s how.