The Labor Department reported that the U.S. added 175,000 jobs last month, slightly above expectations, while the unemployment rate rose a smidgen to 7.6 percent from 7.5 percent in April. CNBC’s Hampton Pearson reports.
Budgeting missteps and poor financial oversight of the federal Job Corps program led to shortfalls that forced the Labor Department to temporarily halt new enrollments earlier this year, according to a government watchdog report released Friday. Full story
Michelle Meyer, BofA Merrill Lynch, and Mark Zandi, Moody's Analytics, offer their preview of the Labor Department's monthly jobs report.
epa02814625 U.S. Republican House Majority Leader from Virginia Eric Cantor talks with reporters about the dismal monthly jobs report numbers in the US Capitol in Washington, DC, USA on 08 July, 2011. The Labor Department reported Friday that just 18,000 jobs were added in June, far less than the 12