The U.S. Labor Department released the awaited jobs report for the month of May, where the Non-farm payrolls showed that 54,000 jobs were added, much below the prior revised estimate of 232,000 jobs and worse than estimates of 165,000, while the unemployment rate climbed gloomily to 9.1% from 8.9%, compared with the forecasted estimate of 8.9%.

Average hourly earnings rose in May by 0.3%, compared with the prior rise of 0.1% and above estimates of 0.2%, while compared with a year earlier, average hourly earnings rose by 1.8%, unchanged from the prior revised estimate and slightly below 1.9% expected, Average weekly earings came at 34.4, as forecasted and unchanged from the prior revised estimates.