Courtesy of Peter Schmeck
WASHINGTON (AP) – America’s employers added just 266,000 jobs last month, sharply lower than in March and a sign that some businesses are struggling to find enough workers as the economic recovery strengthens.
With viral cases declining and states and localities easing restrictions, businesses have added jobs for four straight months.
Still, the unemployment rate ticked up to 6.1% from 6% in March.
Optimism about the economic recovery is growing. Many Americans are flush with cash after having received $1,400 federal relief checks, along with savings they have built up after cutting back on travel, entertainment, and dining out over the past year.
By Christopher Rugaber, Associated Press
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Original piece, published at 6:16 a.m. on 5/7/21: America’s employers likely delivered another month of robust hiring in April, reinforcing the economy’s steady rebound from the pandemic recession.
Economists have forecast that the nation added 975,000 jobs last month after adding 916,000 in March, and that the unemployment rate slipped from 6% to 5.8%.
The size of such job gains was essentially unheard-of before the pandemic. Yet most of the hiring represents a bounce-back after tens of millions of jobs were lost when the pandemic flattened the economy 14 months ago.
Even if economists’ estimate for April hiring proves accurate, the economy would remain about 7 million jobs short of its pre-pandemic level.
By Christopher Rugaber, Associated Press
About Brendan Fitzpatrick
