Private Sector Job Growth Slumps in May

Private Sector
Private Sector

By Leah Schnurr

NEW YORK - Companies hired far fewer workers than expected in May and output in the manufacturing sector slowed to its lowest level since 2009, raising concerns that the U.S. recovery is running out of steam.

Economists slashed their forecasts for Friday's closely watched U.S. payrolls report after private-sector job growth tumbled to just 38,000, its lowest level in eight months.