US employers add modest 138000 jobs; unemployment rate dips to 4.3 percent

US job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labor market was losing momentum despite the unemployment rate falling to a 16-year low of 4.3 percent.

The Fed: One big question following Friday's report: Were May's numbers weak enough that the Federal Reserve will delay raising interest rates?

Against the background of balanced risks in USA economy, Powell expected a total of three rate hikes this year, including the central bank's March rate hike. Given that, it seems questionable at bet for the Federal Reserve to be putting the economic brakes on via more interest rates. "They've got good reason to be cautious". The last time the unemployment rate was at this level was 16 years ago, in May 2001. The unemployment rate fell to 4.3% from the prior month's 4.4% reading.

The share of people who are either working or job hunting relative to everyone in their prime working age - the labor-force participation rate - declined to 62.7% from 62.9%. "There are few risks on the horizon that suggest that the economy is at risk of downturn". In the four full months Trump has been in office, the US economy, as of this morning's new data, has added 601,000 private-sector jobs. Let's hope President Trump and his business know-how can keep the economy moving in the right direction.

"More than 600,000 private-sector jobs have been created since Inauguration Day", he said. Americans are earning more as well as wages continued to pick up.

Apple app developers, many of them Indians, earned over $70 billion
Apple CEO Steve Jobs holds up the new iPhone that was introduced at Macworld on January 9, 2007 in San Francisco , California. You don't necessarily have to lay out the money for a new iPhone to get the benefits of the apps that run on the device.

As for the revisions, the totals for March and April were both revised down, and combined they show a net loss of about 66,000 jobs.

Average hourly earnings rose four cents or 0.2 percent in May after a similar gain in April, leaving the year-on-year increase in wages at 2.5 percent.

The underemployment rate, the number of part-time workers wishing to work full-time jobs fell to 8.4%.

But although the US economy has been adding jobs at a furious pace, workers still aren't seeing very rapid wage growth. But with the labor market expected to hit full employment this year, there is optimism that wage growth will accelerate. Healthcare job growth is slowing, though: That figure has averaged 22,000 jobs monthly in 2017, versus 32,000 monthly in 2016. She also pointed to the replacement of more highly paid retiring Baby Boomers with more lowly paid millennials. But the May jobs report injects some uncertainty into the decision concerning the small rate hike that investors have been expecting would come this month.

Consumer spending, which accounts for more than two-thirds of the United States economic activity, is likely to remain on solid ground in the wake of some reports in late May that showed confidence among households still at lofty levels despite some slippage this month and strong gains in house prices in March. The jobless rates for Blacks (7.5 percent), Asians (3.6 percent), and Hispanics (5.2 percent), as well as those for adult men (3.8 percent), adult women (4.0 percent), and teenagers (14.3 percent), showed little or no change. As of Friday morning, traders saw a 93.5 percent chance of a rate hike.

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