May jobs report: Hiring slows, unemployment rises

By Chris Isidore @CNNMoney June 3, 2011: 1:14 PM ET

NEW YORK (CNNMoney) -- In yet another alarm bell of a weakening U.S. economy, the job market took a disappointing turn in May.

The economy gained a mere 54,000 jobs in the month, a significant slowdown from 232,000 jobs added to payrolls in April, the government reported Friday.
The report was a major disappointment to economists who were expecting a gain of 170,000 jobs, according to a CNNMoney survey. Most believe the economy needs to add about 150,000 jobs a month just to keep pace with population growth.

The unemployment rate worsened to 9.1% from 9% in April. Economists had predicted the rate would improve to 8.9%.

"It is now pretty clear that the economy ran into a brick wall last month," said Paul Ashworth, chief U.S. economist for Capital Economics, in a research note. "The extent of this slowdown is becoming a big concern."

Full story:
http://money.cnn.com/2011/06/03/news/economy/may_jobs_report_unemployment/index.htm?iid=HP_Highlight