In May US employers created much less new vacancies than it had been expected. The outcome turned to be the worst for the whole year. Moreover, the national unemployment ticked up. The job figures dealt a blow to President Barack Obama ahead of a general election campaign. Against such a backdrop, the Federal Reserve appears to be likely to take additional steps to stimulate growth.
In the USA the number of new jobs gained 69000 in May after the April data was revised downwards to 77000. The indicator had been forecasted to augment by 150000 new vacancies. In April the US unemployment moved up from 8.1% to 8.2%.
Separately, the ISM Manufacturing index remained above the benchmark level of 50 points, yet fell as compared to the previous month. What is more, consumers ramped up their spending.
The manufacturing index calculated by the US Institute for Supply Management shifted down to 53.5 points in May from 54.8 points registered in the preceding month. The actual reading of the index conformed to the projections.
It must also be noted that in April household spending edged up by 0.3%. A month before the revised up indicator rose by 0.2%.
