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US economy creates fewer jobs than expected

The US economy created far fewer jobs than expected last month and wages also rose less than forecast.
 
Some 75,000 jobs were created in May rather than the 185,000 expected by analysts.
 
The dollar dropped as markets assumed that the slower-than-expected job growth meant a rate cut by the US Federal Reserve was more likely.
 
But the US unemployment rate remained at 3.6 per cent, its lowest level for 50 years.
 
The US dollar fell more than 0.4 per cent against the pound, the euro and the yen after the jobs figures were published.


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