U.S. adds only 54,000 jobs in May
June 3rd, 2011
09:34 AM ET

U.S. adds only 54,000 jobs in May

[Updated at 9:34 a.m.] Stocks sell off sharply at the open following a dismal monthly jobs report. The Dow sunk 130 points, the Nasdaq slid 1.2%, and the S&P 500 was off 1%.

[Posted at 8:34 a.m.] In yet another alarm bell of a weakening U.S. economy, the job market took a disappointing turn in May.

The economy gained a mere 54,000 jobs in the month, a significant slowdown from 232,000 jobs added to payrolls in April, the government reported Friday.

The report was a major disappointment to economists who were expecting a gain of 170,000 jobs, according to a CNNMoney survey. Most believe the economy needs to add about 150,000 jobs a month just to keep pace with population growth.

Businesses added 83,000 jobs in May, well short of economists' forecast of a gain of 190,000 jobs for the private sector. It was the weakest level of business hiring in 11 months and comparable to the disappointing report by payroll processing firm ADP earlier this week that estimated a gain of only 38,000 private sector jobs.

FULL CNNMONEY.COM STORY
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Filed under: Economy • Finance • Jobs
soundoff (71 Responses)
  1. Philip

    150,000. The number of jobs that must be added every month just to break even. (population growth) We lost another 100,000 jobs in may. I wonder who found them.

    June 3, 2011 at 6:19 pm | Report abuse |
  2. i rock

    Hard working illegals found them! they deserve them as you lazy useless americans dont want them! let america fall!!!

    June 3, 2011 at 7:18 pm | Report abuse |
  3. me

    Exactly

    June 3, 2011 at 10:52 pm | Report abuse |
  4. Auntie Depressed

    CNN: What are you doing? Why don't you screen these posts? I mean, what makes sense about letting someone keep posting OVER AND OVER, about Casey Anthony? The posts are ALL OVER every flipping CNN blog subject and are lengthy and annoying. I also do not understand why you allow discusting posts about green p**p! not to mention other sicko comments! What happened to integrity? Most people seem like decent folks that like to state their point of view. Why do we have to have these sites infilltrated with filth and garbage? Please! Someone do your job and stop allowing these TROLLS to ruin it for the earnest, decent people!

    June 3, 2011 at 11:25 pm | Report abuse |
  5. fernace

    It is funny to read posts from Reps & Dems who treat this issue like a football game, & arguing about which team is the best! This is of course excactly what politicians want, us battling & squabbling amongst our selves, so we don't pay attention to their dastardly deeds, which both parties perpetrate. It really is an "us or them" type of deal! They're lawyers, bankers, CEO's & negotiate as such. The Reps are for the Bigs & the Dems are for the countrys infrastructure, but both often cross the isle to give & get favors. They live in their own world & we are easily forgotten, unless they are trotting out some bill or are campaigning. Then Everything they say & do is for Us! They should, because We are the People & it's our job to keep track of these characters, to know who is for the people & who is against! Bump those only in it for themselves! Only then can we have a truly worthy American Government. They work for us, remember that!!

    June 4, 2011 at 12:08 am | Report abuse |
  6. RUFFNUTT

    need a job? china is hiring.... show your support and defet communism by buying stuff at walmart...

    June 4, 2011 at 9:12 am | Report abuse |
  7. fiery furnace

    The democrats and republicans have combined and now form one giant global corporate fascist regime where military might trickles down to corporate profit. Or something like that.

    June 4, 2011 at 10:53 am | Report abuse |
  8. jazuz

    Xactly

    June 4, 2011 at 4:12 pm | Report abuse |
  9. John Adams

    Is there a link between the poor jobs showing last month and the pending debt ceiling default. It makes sense that business is holding it's collective breath while Washington fiddles.

    June 5, 2011 at 8:31 am | Report abuse |
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