United States employment slowed down in May, according to a federal report which indicates that only 38,000 jobs were added last month. This the smallest number in 5 years, and might be a sign of an economic slowdown. The U.S economy has barely grew in the first quarter of 2016. Yet, these reports do not indicate that the U.S is in trouble economically since occasional slowdown is expected, and economic growth is rarely a strictly upward curve.
The unemployment rate remains at record lows, currently ranging 4.7% to 5% according to the labor department. The low rate both good and bad news. The good news are that the job market has been growing consistently for years now, reducing the unemployment rate, the bad news are that about half a million jobless Americans stopped looking for jobs, also reducing the unemployment rate.
Stock indexes, the Dow Jones, and the NASDAQ, are down today as a result of the jobless claims report.
In addition, the report puts in question the rate hike the Federal Reserve has been planning to announce.