From the FINANCIAL TIMES:
The US economy added just 41,000 private sector jobs in May, falling well short of market expectations and sending stocks sharply lower, as confidence in a sustained recovery was shaken.
The headline increase of 431,000 in non-farm payrolls was swollen by temporary government hiring of 411,000 workers to complete the national census. That boost had been expected; the surprise came in the anemic private-sector job growth after three months of healthier hiring and an increase of 218,000 in April…
The unemployment rate fell from 9.9 per cent to 9.7 per cent, but the fall was helped by disillusioned job hunters withdrawing themselves from the labor market, which removes them from the statistics…
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