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The United States economy added just 266,000 new private jobs in April, falling far short of expectations as the unemployment unexpectedly rose above 6%.
“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,” reports Fox Business.
“There are still 8.2 million fewer jobs than there were last February, before the crisis began,” adds the website.
May 07, 2021 at 09:58AM - The First
BIDEN’S ECONOMY: Jobs Fall Short in April, Unemployment Rises to 6.1% as Recovery Stalls
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