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Weak jobs report weakens economic outlook

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Friday, June 01, 2012

U.S. employers created only 69,000 jobs in May, the fewest in a year. At the same time, the unemployment rate rose.

The dismal jobs data will fan fears that the economy is sputtering. It could also damage President Barack Obama's re-election prospects. And it could lead the Federal Reserve to take further steps to help the economy.

The Labor Department also said Friday that the economy created far fewer jobs in the previous two months than first thought. It revised those figures down to show 49,000 fewer jobs created. The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months.

Read more at OregonLive.com.

{biztweet}economy jobs{/biztweet}

 

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