CORRECTED - US STOCKS-Wall St ends flat after jobs data

* May payrolls fall, unemployment rate soars * Profit-taking weighs, but indexes up for 3rd week * Dow up 0.2 pct; S&P 500 off 0.3 pct; Nasdaq off 0.03 pct

* For up-to-the-minute market news click [STXNEWS/US] (Corrects to shows Citigroup's exit from the Dow occurs on Monday at the start of trading and not after the bell)

By Ellis Mnyandu

NEW YORK, June 5 (Reuters) - U.S. stocks flip-flopped throughout Friday's session, with the major indexes ending split as investors paused to consider conflicting signals in monthly U.S. jobs data.

Investors also sold some recent winners to take some profits from the spring rally, which has driven the S&P 500 up almost 40 percent from its 12-year closing low on March 9.

Trading was choppy as the stock market initially started higher and then drifted lower as investors reassessed the implications of the latest jobs report.

The Labor Department reported that employers cut 345,000 jobs in May -- substantially less than analysts had forecast -- but the U.S. unemployment rate hit 9.4 percent, its highest since 1983.

The data underscored that the U.S. economic picture remained uncertain even after some recent signs of improvement. For details, see [ID:nPEK762]

"There was a mixed bag from the economic news," said Ryan Detrick, senior technical strategist at Ohio-based Schaeffer's Investment Research.