Bleak labor report finds economy added just 69,000 jobs in May
By Vicki Needham and Ian Swanson – 06/01/12 08:29 AM ET
The economy added only 69,000 jobs in May, a result much worse than expected that will heighten fears the economy is sliding back once again as part of a spring slowdown.
The report from the Bureau of Labor Statistics also revised figures for March and April downward, finding the economy created 49,000 fewer jobs than once thought in those two months. The jobless rate rose from 8.1 percent to 8.2.
The report underperformed on expectations and could represent a critical turning point in the presidential race between Republican Mitt Romney and President Obama.
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