WASHINGTON, D.C. (NBC) – U.S. employers added the fewest number of jobs in three months.
The Labor Department reports U.S. employers added just 75,000 jobs in May, missing analysts’ expectations.
The jobless rate held at a 49 year low of 3.6% while average hourly earnings fell to 3.1% down one-tenth of a percent from last month.
Some analysts say these numbers indicate a downshift in job expansion.
They say the slowdown could be a result of growing uncertainty in the economy as President Trump’s trade wars continue with China and Mexico.
On Tuesday, Fed Chair Jay Powell said the fed was keeping an eye on how changing trade policies may impact the economy. He said they were prepared to act to quote “sustain the expansion.”
U.S. markets were poised to open up Friday morning anticipating the weaker than expected jobs number will prompt the Fed to cut rates later this month.