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US job growth screeches to a near halt in May, with private payrolls up just 27,000

From cnbc.com

Job creation skidded to a near-halt in May in another sign that the U.S. economic momentum is slowing. Companies added just 27,000 new positions during the month, according to a report Wednesday from payroll processing firm ADP and Moody’s Analytics that was well below Dow Jones estimates of 173,000. The reading was the worst since around the time the economic expansion began and the jobs market bottomed in March 2010 with a loss of 113,000. Since then, the private payrolls count has increased by 21.3 million. “Job growth is moderating,” Mark Zandi, chief economist at Moody’s Analytics, said in a statement. “Labor ... (full story)

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