Biden’s Economy Adds Only 226k Jobs vs. 1 Million Expected in April
by Matt PalumboPosted: May 7, 2021
Economists expected the U.S. economy would add one million jobs in April, bringing the unemployment rate down to 5.8%, Instead, the economy added only 266,000 jobs, the unemployment rate inched up slightly to 6.1%, and that wasn’t all.
According to CNBC:
There was more bad news: March’s originally estimated total of 916,000 was revised down to 770,000, though February saw an upward revision to 536,000 from 468,000.
“I think this is just as much about a shortage in labor supply as it is about a shortage of labor demand,” said Jason Furman, an economist at Harvard University and a former Obama administration advisor. “If you look at April, it appears that there were about 1.1 unemployed workers for every job opening. So there are a lot of jobs out there, there is just still not a lot of labor supply.”
https://bongino.com/bidens-economy-adds-only-226k-jobs-vs-1-million-expected-in-april