America’s job market really does look like it is slowing down. It remains way over the Federal Reserve’s speed limit, though.
The Labor Department on Friday said that the economy added 390,000 jobs last month, down from April’s 436,000 and the slimmest gain in over a year. Over the past three months there have been 1.2 million jobs added—a marked step down from December when the rolling three-month gain came to 1.9 million.
