Hiring Slowdown Diminishes Chance of Fed Move in June

``"This report is not going to light a fire under the feet of the Fed to hike in June," said Megan Greene, chief economist at Manulife Asset Management. "But I don't think it takes an increase off the table either." ... While the unemployment rate held steady, the size of the labor force shrank in April, partially reversing increases in the prior months. The share of Americans participating in the labor force fell to 62.8% in April from 63.0% in March. The measure bottomed out at 62.4% in September--the lowest level since 1977--but had crept up in recent months.''