Speed Reads

Jobs Numbers

The U.S. added just 75,000 jobs in May, far below expectations

The U.S. added 75,000 jobs in May, falling short of the 185,000 new non-farm jobs economists polled by MarketWatch had expected. The Labor Department also said that it had adjusted April's blockbuster gains from 263,000 down to 224,000.

March's job growth was cut from 189,000 to 153,000. The unemployment rate remained at 3.6 percent, near a 50-year low.Twelve-month hourly wage gains slowed from 3.2 percent to 3.1 percent. The average wage for American workers rose 0.2 percent, or 6 cents, to $27.83 an hour. The report added to concerns about slowing economic growth, and increased pressure on the Federal Reserve to boost the economy by cutting interest rates.