The U.S. economy added 431,000 jobs in May, much lower than economists’ expectations of 536,000, while the unemployment rate fell to 9.7 percent from 9.9 percent the previous month. As widely known, the jump in payrolls was largely attributed by government employment, whereas the private payrolls added merely 41,000 of the 431,000 gain.

Breakdown

Looking at the breakdown of the report, Americans dropped out of the labor force in May as the labor pool available slid...