The number of available jobs rising is something a lot of people have been hoping for. The May jobs report is not the dramatic good news that’s been hoped for. This is not to say that there was no improvement, but the improvement was less than anticipated, which caused ripples within the stock market. The US Census added many of the jobs of the last few months, and fewer than 50,000 jobs were added to the private sector.
Slower growth as outlined by the jobs report
The recently released May jobs report from the Department of Labor is not a forecast for the apocalypse. It would seem, though, the unemployment rate is going to be done in with attrition. The May jobs report showed an increase of 431,000 jobs, as outlined by Forbes. The bulk of them are temporary. Of those, 411,000 were jobs with the US Census, which means an increase in employment is due in June when Census jobs end.
Private sector slips
The private sector didn’t perform too well. The April jobs report had a gain in private sector employment of 218,000, but May took a turn for the worse and added a scant 41,000 jobs. It's the lowest month since January for private sector hiring, so it would appear 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 last month.
Downturn for stock markets
Stock markets have been in turmoil recently. The European debt crisis along with the slower job growth led to a dip for the Dow Jones and NASDAQ of 1.9 percent and a 2 percent slide for the S&P 500, according to CNN Money. Recovery is apparently taking longer than previously thought.
Additional details at these websites
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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