WASHINGTON (dpa-AFX) - Job growth in the U.S. came in at an anemic rate in May sending the unemployment rate up slightly for the month, according to figures released Friday by the Labor Department.
The economy added a net of just 69,000 new jobs in May, far lower than the 150,000 expected by most economists.
Furthermore, the already week job creation numbers posted for April were revised down sharply to show a gain of just 77,000 positions, 38,000 fewer than the 115,000 initially reported.
At the same time, the unemployment rate ticked up to 8.2 percent in May from the 8.1 percent reported in April, a disappointing figure to economists who had predicted that the rate would hold level.
Department of Labor officials said that an increase in the labor force, along with the slow rate of job creation, played a role in the slight increase in unemployment.
Copyright RTT News/dpa-AFX