Economy Watch: Job Growth Tepid in May

The. U.S. unemployment rate is at its lowest level in 16 years, even as job growth slowed in May.

The economy added just 138,000 net new jobs for the month, well below analyst expectations, while the jobless rate decreased by a tenth of a point to 4.3 percent.

America is poised to gain jobs for the 80th consecutive month.

The Federal Reserve is widely expected to raise interest rates later this month but Friday's numbers may muddy the waters given the mixed picture it presents.

The national unemployment rate nudged lower, to 4.3 percent from 4.4 percent - a level that was already the lowest in 10 years when it was announced last month. Yet the decline stemmed more from people leaving the labor force than an increase in the number who found jobs. Manufacturers let go of 1,000.

Average hourly earnings increased by 4 cents to $26.22, after a 5-cent increase in April.

For metropolitan areas in April, the agency says, Ames, Iowa, and Boulder, Colo., had the lowest unemployment rates, at 1.7 percent and 1.8 percent, respectively.

Predators goalie Rinne struggling as Pens take 2-0 lead
He worked the "starter's net" at practice, and the Predators spoke with the assumption that he'd be back in against the Penguins. Guentzel tied it later in the period, planting his 5-foot-11 frame at the post, where he jabbed a backhand rebound to tie it.

The employment report came a day after Trump announced he was withdrawing the United States from the 2015 Paris climate agreement in a bid to preserve U.S. jobs.

Annual growth in average hourly earnings was a so-so 2.6 percent in April.

Job gains in March were revised down to 50,000 from 79,000 while April's figures were also lowered to 174,000 from 211,000. While the topline unemployment number did fall and we also saw another drop in the broader U-6 unemployment rate, both of those drops seem to be attributable more to the fact that people were withdrawing from the labor force, likely a sign that the jobs market is fairly sparse out there right now.

The decline in that measure is an encouraging sign that jobless people who had given up hope of working are now being hired. It plans to open 47 franchises before year's end, adding 400 jobs. Under his leadership, Express has put more than 6 million people to work worldwide. And whatever meaningful pay raises that exist are going disproportionately to managers and supervisors. That figure is well below the 3 or 4 percent growth typical of earlier economic recoveries and throws into question the understood relationship between unemployment and pay (as one drops, the other typically rises). Employers have added more than 2 million jobs in the past year, and a month or two of slow growth isn't unusual.

The Trump administration has designated the pace of hiring for good-paying skilled jobs in construction, manufacturing and mining as among the categories it monitors for economic health.

The for-hire trucking industry lost 100 jobs during May while the wider transportation and warehousing sector added 3,600, due largely to growth in rail transportation as well as transit and ground passenger transportation employment.

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