Job creation sputters in May

Job growth sputters in May

Economy adds only 11,000 new jobs, below forecasts; jobless rate at 4.2%

June 4, 1999: 8:37 a.m. ET

Joblessness inches up - May 7, 1999

Unemployment dips to 4.2% - April 2, 1999

Labor Department

NEW YORK (CNNfn) - The U.S. economy added 11,000 non-farm jobs last month, far below analysts' expectations, while the unemployment rate slipped down 0.1 percentage point to 4.2 percent, the Labor Department reported on Friday.
Economists surveyed by Reuters had predicted an increase of 216,000 on the month, with the unemployment rate unchanged. The May increase was significantly less than the revised gain of 343,000 in April; the Labor Department initially reported an increase of 234,000 jobs last month.

Employers hired fewer new workers in May
Average hourly wages rose 5 cents per hour, or 0.4 percent, to a seasonally adjusted $13.19, slightly higher than the 0.3 percent gain experts were anticipating .