Job Gains In May Fell Short Of Analyst Expectations

According to the government's latest numbers, businesses made 75,000 new hires last month.
Posted at 12:55 PM, Jun 07, 2019

May marked the 104th straight month of job gains in the U.S.

According to the government's latest numbers released Friday, businesses made 75,000 new hires last month. 

The numbers are quite a drop from the 175,000 new jobs analysts had been predicting. Although it's not the weakest month of job growth the U.S. has seen so far this year — that honor belongs to February, when just 56,000 jobs were created.  

The Labor Department also revised job growth numbers previously reported for both March and April. The lower figures indicate the U.S. economy is slowing down some compared with last year.

The Wall Street Journal notes several factors could be at play here, including fading tax cut benefits and the costly effects the Trump administration's trade battle with China is having on U.S. businesses. 

Also in May, the unemployment rate stayed at 3.6% — the lowest it's been since December 1969.

Additional reporting from Newsy affiliate CNN.