The U.S. Labor Department earlier reported that non-farms payroll saw only a marginal increase of 69,000 new jobs in May. That was well below the consensus of economists recently polled who had predicted the creation of 150,000 new positions, a number that was, in fact, downwardly revised after ADP’s private sector data fell short of expectations. It was also reported that April’s data was revised down to 77,000 jobs from 115,000, and the unemployment rate was rose to 8.2% against analysts’ expectations that the rate would be unchanged at 8.1%. Read more
