Hiring Suddenly Slows Down

Wall Street Journal: “U.S. companies slowed their hiring drastically in May and unemployment fell as people dropped out of the labor force, a bleak picture for Federal Reserve officials as they prepare to debate increasing short-term interest rates at a policy meeting this month.”

“Nonfarm payrolls rose by a seasonally adjusted 38,000 in May, the weakest performance since September 2010… Revisions showed employers added a combined 59,000 fewer jobs in April and March than previously estimated.”