US Economy Creates New Jobs in May; Unemployment at 4.7 Percent

The U.S. economy created just 38,000 new jobs in May, while the unemployment rate fell to 4.7 percent. Friday's report from the Labor Department showed a far smaller net gain in jobs than most economists had predicted. The jobless rate fell largely because hundreds of thousands of people stopped looking for work, so they are no longer officially counted as unemployed.   The new data show employment gains in health care, while mining, which includes the battered oil sector,...

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