Jobs numbers point to slower hiring

The excuse they are going to be using - that the spring was unusually warm and this tilted the summer numbers forward -- will work until about August. After that, they'll have to come up with some other excuse for the paltry jobs numbers. Reuters: Private payroll growth accelerated only slightly last month and claims for jobless benefits rose last week, suggesting the labor market recovery was stalling after a strong performance early in the year. Other data on Thursday showed economic growth in the first quarter was a bit softer than initially estimated, with businesses restocking shelves more slowly than previously thought and government spending declining more sharply. "It shows we're in a lackluster period in the economy right now," said Wayne Kaufman, chief market analyst at John Thomas Financial in New York. Private employers created 133,000 jobs in May, payrolls processor ADP said. That was below economists' expectations for 148,000 jobs. The report comes ahead of...(Read Full Post)