In May payrolls rose only 54, 000.

FORBES: METALS OUTLOOK: Weaker Outlook For Gold Prices Likely

Next week brings the May nonfarm payrolls report, which many market watchers will use as a divining rod to ascertain whether the Federal Reserve and Ben Bernanke could actually start tapering their asset purchases before the summer is out, perhaps as early as late June.

FORBES: Strong May For Stocks Ends With A Rout On Wall Street

After Asian markets closed on Friday, the U.S. reported nonfarm payrolls rose 69, 000 in May, the smallest increase for a year, while unemployment in the world's largest economy edged up to 8.2%, the first increase in just under a year.

WSJ: U.S. Data Dog Asia Markets

Governments continue to cut as they repair their budgets, reducing payrolls by 13, 000 jobs in May.

WSJ: U.S. Economy Adds 69,000 Jobs; Unemployment Rate Rises to 8.2%

The Labor Department reported early Friday that non-farm payrolls climbed just 69, 000 in May, when consensus expectations compiled by various news organizations had been for around 150, 000 to 170, 000.

FORBES: Gold Reclaims $1,600/Oz After Weak U.S. Jobs Number Ups Expectations For More Fed Easing

Expectations of net job creation upwards of 155, 000 were dashed upon word that payrolls edged up only 69, 000 in May and the unemployment rate ticked up slightly to 8.2 percent.

FORBES: Some Hope Amidst Gloomy Jobs Report

The U.S. non-farm payrolls component of the employment report rose by just 69, 000 in May, which is much less than the 150, 000 rise expected by the market place.

FORBES: By Jim Wyckoff Of Kitco News

The key non-farm payrolls figure in the jobs report is expected to have gained around 150, 000 in May.

FORBES: By Jim Wyckoff Of Kitco News

That may be why small firms have done relatively worse now than in the 2001 recession, when their payrolls shrank less than at large firms.

ECONOMIST: Jobs and businesses