May's jobs reports has worried investors worldwide about their short-term prospects. But there are more acute fears of a global slowdown, caused by what’s going on in Europe and emerging markets.
The American workforce feels it, but now its official: the economy created a meager number of jobs in May. Alan Krueger, chair of the President's council of economic advisors joined us live for the White House's reaction.
The U.S. added 69,000 jobs in May and the unemployment rate in the U.S. climbed to 8.2 percent, from 8.1 percent in April. At the same time, the number of jobs created in March and April has been revised down.
The government recorded just 69,000 additional jobs in May. A separate survey of households showed unemployment at 8.2 percent, a slight increase from April.
New York Bureau chief Heidi Moore and Sudeep Reddy of the Wall Street Journal check in for our weekly recap of wall street and the economy: Sluggish jobs report, Facebook plays the exchange game, and will IBM's CEO go to the Masters?
