NFP Disappoints; Unemployment Rises

The Labor Department announced that non-farm payrolls (NFP) increased by 54,000 for the month of May. This is the weakest result since last September and well below expectations of 161,000 new jobs.

Private employment created 83,000 new positions while Government payrolls were trimmed by 29,00. As a result, the unemployment level rose slightly from 9.0 to 9.1 percent.

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