The U.S. economy added just 38,000 jobs during the month of May, the Department of Labor announced Friday morning. While the unemployment rate fell to 4.7 percent—the lowest since 2007—overall job creation has been tepid throughout the last few months, falling well short of the average of 200,000 over the past two years. Additionally, wage growth in May clocked in at just 2.5 percent, well below the 3.5 percent officials had been looking for. The new numbers come as a Federal Reserve panel is considering increasing interest rates this month.
