US job growth slows in May

The US Department of Labor reported Friday that the US added only 54,000 new positions in May, and coupled with more people entering the workforce, the unemployment rate rose to 9.1 percent from 9 percent in April.

The US construction sector added only 2,000 new jobs according to the Associated General Contractors of America (AGC), as the unemployment rate fell to 16.3 percent, a significant drop from the 17.8 percent unemployment rate in April. Unemployment in the manufacturing and transportation sectors stood at 9.6 and 8 percent, respectively, in May.