The US job market shows signs of slowing, with an addition of 139,000 jobs in May, slightly higher than expected but lower than in April. Key sectors like healthcare and leisure showed gains, while the federal government cut jobs. The unemployment rate remains steady at 4.2%, with minimal wage growth. Economists warn that the revisions of job numbers are alarming, indicating a fragile economy, particularly due to the impact of ongoing global trade tensions. ADP's report highlights an even sharper decline in private payrolls, adding only 37,000 jobs.
"The job market is steadily but surely throttling back. Monthly job gains are moderating, with revisions consistently lower, indicating a fragile economy amid a global trade war."
"Private payrolls also tumbled this month, with the US economy adding only 37,000 jobs, the lowest in two years, signaling a loss of momentum in hiring."
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