April Jobs Report Falls Far Short of Expectations

April Jobs Report , Falls Far Short of Expectations.

According to the report released May 7 by the Bureau of Labor, the U.S. economy added 266,000 jobs in April.

With millions of vaccinations occurring daily, economists were expecting an addition of closer to one million jobs.

The data was released on the one year anniversary of the worst job loss for any month in America's history.

Even with the underwhelming job additions in April, economists largely struck an optimistic tone.

With most of the high-frequency indicators still pointing to further improvement and jobless claims falling like a stone in recent weeks ... we doubt that it signals the recovery is at risk, Economist Michael Pearce, Capital Economics, via CNN.

Jobless claims for the last week of April dipped below 500,000 for the first time since the beginning of the pandemic.

Economists predict that the jobs data for April could be a sign of drastic and not yet understood changes to the job market