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EMPLOYMENT: Growth Stumbles as US adds only 38,000 jobs for May

June 1, 2011

Washington - America’s prospected growth stumbled when only 38,000 jobs were added last May and manufacture landed to 2009 levels, the lowest in more than a year, according to Friday’s payroll report.

The report further intensifies speculations that the United States is now falling behind the recovery bracket. “This is exactly what we do not want”, said economist Tom Porcelli.

The plunge resulted from the announced 37,135 planned job cuts last month, a 1.8% increase from 36,490 last April.

Economists also recorded a more sluggish 1.8% growth compared to their early-year predictions.

House sales remain stunted with people still abstaining from mortgage applications, an industry group report said.

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