US hiring grinds to a near-halt

Report: Many stop looking for work

In this May 18 photo, a woman passes a "We're Hiring!" sign while entering a clothing store in the Downtown Crossing of Boston. But U.S. hiring slowed to a near-standstill in May, sowing doubts about the economy's health and complicating the Federal Reserve's efforts to raise interest rates. - photo by Associated Press

Economy Ledb 1 — In this May 18 photo, a woman passes a "We're Hiring!" sign while entering a clothing store in the Downtown Crossing of Boston. But U.S. hiring slowed to a near-standstill in May, sowing doubts about the economy's health and complicating the Federal Reserve's efforts to raise interest rates. - photo by Associated Press

WASHINGTON — U.S. hiring slowed to a near-standstill in May, sowing doubts about the economy's health and complicating the Federal Reserve's efforts to raise interest rates. While unemployment slid from 5 percent to 4.7 percent, the lowest since November 2007, the rate fell for a troubling reason: Nearly a half-million jobless Americans stopped looking for work and so were no longer counted as unemployed. Employers added just 38,000 jobs in May, the fewest in over five years.

Associated Press

Associated Press