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Companies Slow Down on Hiring

May payroll shows smallest gain in jobs as economy cools.

By Shobhana Chandra | Updated on June 03, 2011

Employers probably hired fewer workers in May, a sign U.S. businesses are losing confidence as the world’s largest economy cools, economists said before a report today.

Payrolls rose by 165,000, the smallest gain in four months, after increasing 244,000 in April, according to the median of 89 estimates in a Bloomberg News survey. The jobless rate may have partially reversed April’s advance, falling to 8.9 percent from 9 percent.

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