U.S. jobless rate remains at lowest level in 49Yrs in May

The U.S. Bureau of Labour Statistics (BLS) said on Friday the total payroll employment grew in May, while the unemployment rate remained at the lowest level in 49 years, offering more signs that the economy is losing pace.

The US economy added 75,000 jobs last May, with job gains notable only in segments of professional and business services, and health care.

Professional and business services providers created new 33,000, while job gains in the health care segment amounted to 16,000 jobs month-on-month.

Construction sector saw a little gain of 4,000 jobs last month.

Unemployment rate flattened at 3.6% last month, the lowest level observed since 1969, as the number of jobless people barely changed at 5.9 million.

The average workweek for all employees on private nonfarm payrolls stood unchanged at 34.4 hours during May.

Meanwhile, the average wage paid to US workers rose by $0.6 to $27.83, with the year-on-year rate of hourly wage gains slowing to 3.1%.

By 12:39 pm GMT, the US dollar index plunged by 0.37% to 96.68.