Dow Jones Takes a Hit as US Economy Adds Only 38,000 Jobs in May

The U.S. economy added only 38,000 in May 2016, while the unemployment rate fell to 4.7 percent, reported the Bureau of Labor Statistics (BLS) on June 3.
Dow Jones Takes a Hit as US Economy Adds Only 38,000 Jobs in May
(FILE) A trader works on the floor of the New York Stock Exchange on Oct. 7, 2008. (Mario Tama/Getty Images)
6/3/2016
Updated:
6/3/2016

(Via BLS.gov)
(Via BLS.gov)

The low numbers come after three recent months of job gains averaging 116,000 per month.

The unemployment rate decreased by 0.3 percent. The number of people who were unemployed declined by 484,000 to 7.4 million, the bureau said.

There are also 538,000 people in America who are not currently looking for work because they believe no jobs are available for them, the report said.

After the report was released, the Dow Jones dipped, by 24 points (0.13 percent) by the afternoon. The Dow was lower than those numbers earlier in the morning.