Just about everybody has been hoping the number of jobs would increase. The May jobs report did not live up to those expectations. This is not to say that there was no improvement, but the improvement was less than anticipated, which caused ripples in the stock market. There were less than 50,000 jobs in the private sector, and most job growth in the last few months were all as a result of US Census.

Source for this article: The latest jobs report is not as good as expected By Personal Money Store

Jobs report shows slower growth

The Department of Labor didn't disclose doom and gloom entirely in the May jobs report. That said, it also would seem that the presently high unemployment rate may have to be addressed via attrition. The May jobs report, according to Forbes, showed a gain of 431,000 jobs. Most were seasonal employment. The US Census accounted for 411,000 of those jobs, so unemployment is going to go back up in June.

Private sector slips

There was not a great gain in the private sector. The April jobs report had a gain in private sector employment of 218,000, but May took a turn for the worse and added a scant 41,000 jobs. Those are the lowest reported numbers since January, so it looks like rebuilding the workforce will be slow going. The good news is the unemployment rate fell to 9.7 percent from 9.9 percent the previous month.

Stock markets slide

Stock markets have been in turmoil lately. On the heels of the news that job growth had been slower than anticipated, combined with the European debt crisis, the Dow Jones and NASDAQ indexes both slid 1.9 percent, and the S&P 500 lost 2 percent in trading, as outlined by CNN Money. It would appear the rebound is taking longer than forecasted, both in the stock markets and within the job market.

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Forbes

forbes.com/feeds/ap/2010/06/04/general-technology-hardware-amp-equipment-us-economy_7661383.html?boxes=Homepagetopnews

CNN Money

money.cnn.com/2010/06/04/markets/markets_newyork/