Hiring dropped sharply in May, the weakest in 6 years; unemployment rate fell to 4.7 percent

June 3, 2016 1:32 PM

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Hiring dropped sharply in May, the weakest in 6 years; unemployment rate fell to 4.7 percent

The U.S. job market slowed dramatically in May, according to government data released Friday, adding just 38,000 jobs despite other signs that the economy was picking up steam after a weak start to the year.

Job growth in May was the weakest since 2010, when the country was still clawing back from the Great Recession and thousands of workers were joining the ranks of the unemployed. The Labor Department also lowered its estimate of hiring in March and April by 59,000 jobs.

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