Unemployment - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

Unemployment

Payrolls not as strong as hoped, but unemployment rate dipped

The Labor Department says May jobs creation wasn't nearly as strong as hoped. The government says employers added 78-thousand jobs last month. That's about 100-thousand short of analysts' forecasts for jobs creation. At the same time, the unemployment rate dipped one-tenth of one percent to five-point-one percent. That's the lowest level since September 2001. While the two numbers are distilled from separate surveys, they are released together. The payrolls data helps back the growing view in the financial markets that the Federal Reserve may be getting closer to the end of its rate-hiking cycle, which began a year ago.

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