Just about everybody has been hoping the number of jobs would increase. Unfortunately, the May jobs report has not revealed a huge increase within the number of jobs accessible. It was not awful, but the stock market had pinned their hopes on greater numbers than what came out. Fewer than 50,000 non-farming private sector jobs were added, and also the biggest job growth over the last couple of months seems to be for the US Census.
Resource for this article: The latest jobs report is not as good as expected By Personal Money Store
Slower growth as outlined by the jobs report
The recently released May jobs report from the Department of Labor isn't a forecast for the apocalypse. That said, it also would seem that the currently high unemployment rate will have to be addressed via attrition. The May jobs report showed an increase of 431,000 jobs, according to Forbes. Most of them are seasonal. The US Census accounted for 411,000 of those jobs, so unemployment is going to go back up in June.
Private sector slips
The private sector did not fare well. There were only 41,000 private sector jobs added, in contrast to 218,000 in the April jobs report. It’s the lowest month since January for private sector hiring, so it would appear that the rebuilding of the workforce is going to be a slow climb. The unemployment rate fell to 9.y percent, down from 9.9 percent in April.
Downturn for stock markets
This has not been a great month for the stock markets. The slower job growth along with trouble in Europe precipitated a slip of the Dow and NASDAQ of 1.9 percent, and the S&P 500 lost 2 percent in trading, as outlined by CNN Money. It would appear the rebound is taking longer than forecasted, both within the stock markets and within the job market.
A lot more information on this topic
Forbes
forbes.com/feeds/ap/2010/06/04/general-technology-hardware-amp-equipment-us-economy_7661383.html?boxes=Homepagetopnews
CNN Money
money.cnn.com/2010/06/04/markets/markets_newyork/
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