Weak US Employment Report Dims Prospect Of Fed Rate Hike

The U.S. economy created the fewest number of jobs in more than five and a half years in May, as manufacturing and construction employment fell sharply, suggesting slippage in the labor market that could make it harder for the Federal Reserve to raise interest rates. Nonfarm payrolls increased by only 38,000 jobs last month,...

U.S. Economy Contracts In Q1; Dollar Hits Corporate Profits

The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports, but activity has rebounded modestly. The government on Friday slashed its gross domestic product estimate to show GDP shrinking at a 0.7 percent annual rate instead of the 0.2...