By Lucia Mutikani WASHINGTON (Reuters) – U.S. job growth slowed sharply in May and wages rose less than expected, raising fears that a loss of momentum in economic activity could be spreading to the labor market, which could put pressure on the Federal Reserve to cut interest rates this year.The broad cool-off in hiring reported by the Labor Department on Friday was before a recent escalation in trade tensions between the United States and two of its major trading partners, China and Mexico. Analysts have warned the trade fights could undermine the economy, which will celebrate 10 years of expansion next month, the longest on record.Adding a sting to the closely watched employment report, far fewer jobs were created in March and April than previously reported, indicating that hiring had shifted into a lower gear. The labor market thus far has been largely resilient to the trade war with China. “Today’s report makes a cut more likely, and supports our view that the trade tensions will ultimately slow growth enough for the Fed to respond in September and December with cuts,” said Joseph Song, an economist at Bank of America Merrill Lynch in New York. Nonfarm payrolls increased by 75,000… Read full this story
- Revealed: Scotland Yard officer gave 'red flag' warning about Usman Khan eight months before he killed two in London Bridge terror attack after seeing through his 'suspiciously rehearsed' act to probation service
- Report: Dodgers, Red Sox Have Begun Discussions On Potential Mookie Betts Trade
- NRA Legal Bills Raise ‘All Sorts of Red Flags’
- Six ways we were blind to screaming red flags about government surveillance
- New York state to ban fracking over 'red flags' to public health
- Red Flag: Israel to Play in US War Games Alongside Pakistan, UAE
- FTC reveals red flags to detect impostor scams, the new No. 1 fraud
- College Basketball Analyst Says James Wiseman's Decision to Forego Season and Enter NBA Draft Is 'A Huge Red Flag for NCAA'
- 'I ignored the red flags': Love Island's Vanessa Sierra had a 'bad feeling' about ex-boyfriend Rhyce Power before they broke up after an incident in Thailand
- Report raises concerns about Georgia hospital tax credit
Weak U.S. employment report raises red flag on economy have 365 words, post on www.metro.us at June 7, 2019. This is cached page on Business Breaking News. If you want remove this page, please contact us.