US hiring stalls in May; Fed rate hike in question

US companies unexpectedly slashed hiring last month after a strong four-year run, raising questions about the economy's strength and squelching expectations the Federal Reserve will raise interest rates this month. In a shock employment report, the Labor Department said Friday that the US economy generated a paltry 38,000 net new positions in May, a quarter of that expected, and the lowest number since September 2010, the last time the jobs market actually contracted. Coupled with downward revis