/Job growth falls to 75,000 in May

Job growth falls to 75,000 in May

Federal Reserve building

This month’s tepid job growth, along with the rising pressures on the economy, make it likelier that the Federal Reserve will cut rates in the coming months.
| Manuel Balce Ceneta, file/AP Photo

The economy created only 75,000 jobs in May, the Labor Department reported Friday, signaling that economic growth may be slowing as President Donald Trump prepares to impose steep tariffs on Mexico.

The May jobs number was a steep falloff from April’s 224,000. It was also well below the 223,00 average monthly gain for 2019 and significantly below financial experts’ expectations. Economists surveyed by The Wall Street Journal had predicted that the report would show 173,000 jobs created in May.

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Other indicators in the report were more favorable, however, with average hourly earnings in the private sector up 3.1 percent and unemployment remaining at 3.6 percent

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