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Payrolls Shock: Only 266k Nonfarm Jobs Added in April, vs 978k Expected

Published 07/05/2021, 10:44 pm
Updated 07/05/2021, 10:44 pm
© Reuters.

© Reuters.

By Geoffrey Smith 

Investing.com -- The U.S. economy created far fewer jobs in April than estimated, casting doubt over the strength of the economic recovery. 

The :Labor Department said only 266,000 net nonfarm jobs were added through the middle of last month, compared to expectations for a number just under 1 million. In addition, the March payrolls gain was revised down by a whopping 146,000 to 770,000.

The unemployment rate rose to 6.1% of the workforce from 6.0% in March. Analysts had expected it to fall to 5.8%.

 

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