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The April payrolls data was largely a massive disappointment, but not entirely.
The US economy added only 266,000 jobs …
Good Subscriber Account active since The April payrolls data was largely a massive disappointment, but not entirely. The US economy added only 266,000 jobs last month, according to the Bureau of Labor Statistics, far undershooting estimates calling for an increase of 1 million payrolls. The unemployment rate rose to 6.1% from 6%, and a handful of industries shed jobs despite the easing of economic restrictions. While nearly all gauges pointed to a slowing recovery, an alternative measure of nationwide unemployment improved slightly from its March level. The « real » unemployment rate previously mentioned by Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen fell to 8.3% in April from 8.7%, by Insider’s calculations. The rate includes workers who have been misclassified as having a job while on furlough and Americans who’ve dropped out of the labor force since February 2020.
