re: #705 Gus

Dow Average Erases 2012 Advance After Employment Data
By Rita Nazareth - Jun 1, 2012 8:22 AM MT

This is the culprit:

US economy added 69K jobs in May, fewest in a year

WASHINGTON (AP) — The U.S. economy suddenly looks a lot weaker.

U.S. employers created only 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up.

The dismal jobs data will fan fears that the economy is sputtering. It could also damage President Barack Obama’s re-election prospects. And it could lead the Federal Reserve to take further steps to help the economy.

The Labor Department also said Friday that the economy created far fewer jobs in the previous two months than first thought. It revised those figures down to show 49,000 fewer jobs created. The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months.