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US hiring sharply misses expectations in April with just 266,000 new jobs added

Unemployment unexpectedly rose to 6.1%

By Megan Henney

FOXBusiness

An expected U.S. hiring boom crashed into a wall in April, with employers adding a measly 266,000 new jobs – sharply missing Wall Street’s expectations – amid a growing shortage of available workers.

The unemployment rate unexpectedly rose to 6.1% — while it’s still well below the April 2020 peak of 14.7%, it’s about twice the pre-crisis level, the Labor Department said in its monthly payroll report, released Friday morning. Economists surveyed by Refinitiv expected the report to show that unemployment fell to 5.8% and the economy added 978,000 jobs.

Click the link below to read the rest of this story.

https://www.foxbusiness.com/economy/april-jobs-report-2021-coronavirus-pandemic

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