The job machine in the US stuttered in May. The government in Washington today reported only 75,000 new jobs. Economists had expected a much larger increase of 185,000.
In addition, the increase in April of 224,000 was almost 40,000 lower than initially reported. The unemployment rate remained at 3.6 percent last month.
The US Federal Reserve, which aims to boost full employment and stable prices, has taken a key break in the face of global economic slowdown and subdued US inflation. In 2018, she had raised the key rate four times – most recently in December to the range of 2.25 to 2.5 percent.
