The Labor Department reported that the U.S. economy added 139,000 jobs in May, as employers slowed the pace of hiring amid uncertainty over the economy as well as tax and trade policy.

Long-term unemployment hit a three-year high of 23.5% in April, showing a stagnated labor market in which companies aren't laying off workers but also aren't hiring new employees.

Job growth is expected to fall this year, adding to pressure on the Federal Reserve to cut interest rates. But the slowdown might reflect a smaller labor force, not declining demand from employers.