Unemployment Rate Falls to 16-Year Low, But Hiring Slows

Unemployment Rate Falls to 16-Year Low, But Hiring Slows

The economy added 138,000 nonfarm jobs in the month of May, lowering the unemployment rate to 4.3%, its lowest rating since May 2001. However, hiring slowed from what was expected. Economists predicted the economy adding 184,000 jobs in the month of May, and with reported near record high job openings, this suggests that businesses are struggling to find workers. The labor market is currently at or near full employment, which means everyone who is seeking a job has one.

Read more about May’s unemployment report here:

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