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U.S. Jobs Growth Sinks to 5-Year Low
The U.S. added only 38,000 jobs in May, the smallest gain since September 2010, according to the Dept. of Labor.
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The U.S. added only 38,000 jobs in May, the smallest gain since September 2010, according to the Dept. of Labor.
But the nation’s unemployment rate declined to 4.7% from 5% in April, partly because of people dropping out of the jobs market entirely. The department says the number of involuntary part-time workers last month rose by 468,000 to 6.4 million.
Unemployment levels in the durable goods manufacturing sector increased to 466,000 from 405,000 in May 2015. Unemployment over the same period climbed to 4.7% from 4.1%.
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