Weak US job report raises red flag on economy

May jobs report: Hiring slowed down in May, just 75,000 jobs added

US job growth slowed sharply in May and wages rose less than expected, raising fears that a loss of momentum in economic activity could be spreading to the labor market, which could put pressure on the Federal Reserve to cut interest rates this year. Hiring in the previous two months was revised lower by a combined 75,000.

Average hourly earnings for all private-sector workers rose 6 cents to 27.83 US dollars in May.

Stocks extended their rally to cap their strongest week since November, as a weaker than expected employment report appeared to raise the odds of easier monetary policy from the Federal Reserve. But they also noted that May's weaker hiring data preceded President Donald Trump's threat last week to impose 5% tariffs on Mexico.

The unemployment rate remained at 3.6 percent in May, the lowest level in nearly half a century.

Hiring slowed across all sectors in May.

Last month's slowdown in job gains, however, probably understates the labour market's health as layoffs remain low. The U.S. economy has added an average of 164,000 jobs per month so far this year, on track for the slowest pace of gains since 2010. A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, dropped two-tenths of a percentage point to 7.1 per cent last month, the lowest since December 2000. The Labor Department said just 20,000 jobs were added in February, after an explosion in January of more than 300,000 new jobs. A category that includes telecom, publishing, and media shed 5,000 jobs.

Trade conflicts have had no impact on the company, Guccione added.

"We're seeing great pools of candidates", he said.

French Open 2019: Kevin Krawietz and Andreas Mies win doubles
But Thiem more than deserves to be facing Nadal again in Paris, and for the third time in a major in the a year ago . He added: "Every single time to beat one of them it's fantastic , they've won more than 50 grand slams ".

"The lack of meaningful jobs growth in manufacturing, and lower-than-average wage growth in manufacturing, gives another indication that Trump's trade war is hurting workers and the economy", Seth Harris, a distinguished scholar at Cornell University's School of Industrial and Labor Relations and former acting Secretary of Labor under former President Barack Obama, told Al Jazeera.

The federal government payroll also shrank unexpectedly by 15,000 workers.

Over the last 12 months, wage gains were 3.1 percent and have been at or above three percent for 10 straight months, outpacing increases in consumer inflation.

"The market is happy because the punch bowl is still there", DePalma said. Those taxes would rise each month until they reach 25% in October unless the Mexican government cuts off a flow of Central American migrants entering the United States from through Mexico.

The higher costs from the import taxes - and the potential for more - might be causing companies to scale back plans for spending, investment and expansion.

Keeper Security, a cybersecurity firm, said last month that it would expand its Chicago headquarters and add 130 jobs over the next six months to its roughly 160 current staff.

"For the Fed, today's report makes a cut more likely, and supports our view that the trade tensions will ultimately slow growth enough for the Fed to respond in September and December with cuts", said Bank of America economists Joseph Song and Michelle Meyer in a research note. Orders for machinery and equipment fell 1% in April.

The U.S.jobs situation showed some ugliness Friday morning. Analysts expect auto sales to fall below 17 million this year after four years above that level.

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