Sharp Slowdown in U.S. Hiring May Sway Fed Decision

June 3, 2016 12:37 PM

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The government reported on Friday that employers added just 38,000 workers in May, a significant slowdown in hiring that could push back a decision by the Federal Reserve to raise interest rates as the economic recovery appears to have stalled.

The official unemployment rate, however, dropped to 4.7 percent, from 5 percent, mostly a result of people dropping out of the labor force.

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