Stocks are sliding on the disappointing jobs report

The national unemployment rate nudged lower, to 4.3 percent from 4.4 percent - a level that was already the lowest in 10 years when it was announced last month. Following sizable revisions downward in the March and April jobs reports, it may be time to suggest that President Donald Trump's campaign promise to bring jobs back to the USA has disappointed.

The president has focused on manufacturing jobs, a sector that has seen steady growth since his election.

Unemployment expected to stay at 10-year low: Economists surveyed by CNNMoney predict the US added 179,000 jobs in May and that the unemployment rate remained at 4.4%, its lowest level in a decade. Success in either or both will jolt the economy out of the Obama doldrums.

The health of the labor market is evident in higher wage growth.

"The rest is kind of this noise, the monetary policy, what's going on in DC", Arone said, referring to Washington.

The dollar also received an additional lift as an improvement in broader risk sentiment - Japan's Nikkei reached a 22-month peak after Wall Street set record highs - curbed demand for the safe-haven yen. The Dow Jones Industrial Average .DJI rose 76.47 points, or 0.36 percent, to 21,220.65.

March and April data was revised to show 66,000 fewer jobs created than previously reported.

The Australian dollar is up by 0.4% at.7406 per dollar. It meets later in June and is expected to raise borrowing costs for the second time this year, confident that low wage inflation will prove to be transitory.

The dollar index, tracking the unit against key foreign currencies, fell to a seven-month low and was last down 0.44 percent at 96.774 .DXY The euro was 0.50 percent higher against the dollar to $1.1267.

The euro is up by 0.4% at 1.1259 against the dollar.

The new numbers come a day after Trump announced the US was exiting the Paris agreement on climate change, a decision many in the business community opposed.

Benchmark Brent crude futures were off 50 cents at $50.13 a barrel.

Long-dated U.S. Treasury yields fell to almost seven-month lows while short-dated yields touched their lowest in more than two weeks after the U.S. employment data suggested a cautious Fed policy beyond June.

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