US added only 75,000 jobs in May as economy shows signs of slowing
Job creation numbers came in below expectations, causing economists to predict that Fed will begin cutting interest rates
Growth in the US employment market decelerated sharply in May, as the economy added just 75,000 jobs – holding the unemployment rate steady at 3.6%, matching its lowest level since 1969.
The job creation numbers came in around 100,000 below expectations, signaling that despite marking the 104th straight month of gains, employers are pulling back as they review the effect of slowing global growth and trade tensions with China, the EU and Mexico.