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Weak Hiring Pushes Back Fed’s Plans

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by: Harriet Torry

Jun 04, 2016

 

SUMMARY: The U.S. job market notched its weakest monthly gain in more than five years, knocking down expectations for a Federal Reserve rate increase and stirring worries about the seven-year-old economic expansion. The weaker-than-expected report almost certainly takes a rate increase by the Fed at its June 14-15meeting off the table and also complicates the possibility of a move at the July meeting. The dollar and bond yields, after rising in recent weeks in anticipation of higher interest rates, weakened in the wake of the report’s release. The greenback fell 1.7% against a basket of six currencies and the yield on the benchmark 10-year Treasury note fell to 1.702%, near its 2016 low. Stocks slipped, with the Dow Jones Industrial Average losing 31.50 points, or 0.2%, to 17807.06.

 

QUESTIONS: 

 

1.  Employers added 38,000 jobs in May. How long has it been since job growth was this weak?

 

2. Why would a weak jobs report knock down expectations for a Federal Reserve rate increase and stir worries about the seven-year-old economic expansion?

 

3.  Why do you think the dollar fell, the yield on the 10-year Treasury note fell, and the Dow Jones Industrial Average fell on news of weak job growth?

 

4.  Nearly half a million people dropped out of the workforce last month, dragging down the share of Americans participating in the labor force by 0.2 percentage 

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