Cautious employers added just 75,000 new jobs in May, the fewest in seven months, in a fresh sign the US economy is losing momentum heading into summer.
Rising energy prices, higher borrowing costs and a cooling of the once red-hot housing market are the main forces shaping the slowdown in the country's overall economic activity. Those factors, along with sagging consumer confidence, are making companies wary of bulking up their payrolls in case the economy takes an unexpected turn for the worse, analysts said.
The US unemployment remains at 4.6%, the lowest in five years.
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