Job growth slows considerably

Private companies added 27,000 jobs in May, well below analysts' expectations of 173,000.

A report from ADP and Moody’s Analytics indicated the job figure was the worst since the economic expansion began.

“Job growth is moderating,” Mark Zandi, chief economist at Moody’s Analytics, said in a statement. “Labor shortages are impeding job growth, particularly at small companies, and layoffs at brick-and-mortar retailers are hurting.”

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