Market Overview

US Adds 75,000 Jobs In May, Far Below Estimates

US Adds 75,000 Jobs In May, Far Below Estimates

The U.S. Bureau of Labor Statistics reports non-farm payrolls for May were 75,000, missing the the 185,000 estimate and down substantially from a prior estimate of 263,000.

In the private sector space, May figures reached 90,000 versus the 175,000 estimate.

The unemployment rate remained the same at 3.6 percent.

"While we've seen a slowdown in hiring, prospects remain positive for job seekers, regardless of someone's resume or background: 59% of employers are willing to hire candidates who may not be fully qualified, with plans to train them on the job, and a growing number of hiring managers are no longer looking at college degrees as indicators of whether or not to hire a candidate," said Irina Novoselsky, CEO of CareerBuilder.

Related Links:

Unemployment Drops To Lowest Rate In 50 Years, April Jobs Number Exceeds Forecasts

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Posted-In: News Econ #s Top Stories Best of Benzinga


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