The U.S. economy added just 38,000 new jobs last month, a steep decrease from April’s low 123,000, and well below analysts’ forecasts. Overall, the economy has averaged just 116,000 during the previous three months of this year, compared with about 207,000 last year. The unemployment rate fell to 4.7% in May, the lowest since 2007, largely because 458,000 workers dropped out of the labor force. One positive of the May report was that wages continued to show solid improvement. May’s meager job growth was completely unexpected and makes it unlikely Federal Reserve policymakers will increase a key interest rate when they meet June 14-15.
See "U.S. Economy Creates an Anemic 38,000 Jobs in May, Likely Stalling Fed Interest Rate Hike", Jim Puzzanghera, The Los Angeles Times, June 3, 2016