US Economy Created 175,000 Jobs in May, Jobless Rate Rises to 7.6%

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American employers added 175,000 jobs in May – a sign of steady hiring – the Labor Department reported Friday. And while the number is an improvement over April, it doesn’t offer much incentive for the Federal Reserve to scale back its long-running stimulus policies.

The unemployment rate ticked higher to 7.6 percent. Economists had predicted the rate would remain unchanged at 7.5 percent. The increase likely happened because more people began looking for work, a good sign. About three-quarters found jobs, while the rest added to the ranks of the unemployed.

The government said the economy added 12,000 fewer jobs in April and March.

Employers have added an average of 155,000 jobs in past three months, below the average of 237,000 created from November through February.

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