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| Economy |
| Shocking Miss: The U.S. Economy Added Just 266,000 Jobs in April, Unemployment Ticks Up |
| 2021-05-07 |
| Well, it didn't take Dems long to f up the economy. Can't wait for inflation numbers to be revealed. [Breitbart] The U.S. economy added just 266,000 jobs in April and the unemployment rate ticked up to 6.1 percent, the Labor Department said in its monthly labor assessment Friday, smashing expectations. This was far below expectations. Analysts surveyed by Econoday had predicted Friday’s report would show between 755,000 and 1.25 million workers added to payrolls in April. The median forecast was for 938,000 and an unemployment rate of 5.8 percent. The disappointing number for April could be a sign that hiring is being held back by enhanced unemployment benefits and schools that have not reopened full time, requiring some parents to stay home to take care of children. Many businesses say that they cannot hire enough workers to fill positions because of the government’s enhanced unemployment benefits program. The economy has outperformed expectations on many metrics this year as vaccinations have boosted business and consumer confidence and restrictions on businesses have been lifted. Friday’s employment numbers represent a rare miss for expectations. In April, average hourly earnings increased by 21 cents to $30.17, a 0.7 percent increase, following a decline of 4 cents in the prior month. Average hourly earnings for private-sector production and nonsupervisory employees rose by 20 cents to $25.45. Lord Garth: Three reasons IMO for this (probably others) are: - enhanced unemployment checks per latest Covid recovery bill - Parents can't take jobs because kids not able to go to school - Some people are still too afraid of the disease to go back to work Related: U.S. economy: 2021-05-01 US recovery from pandemic recession is showing momentum U.S. economy: 2021-04-05 Employment data shows the US economy is just fine without Biden's help U.S. economy: 2021-04-03 Economy beat expectations in March with 916,000 new jobs as pandemic wanes, unemployment down to 6% |
| Posted by:Cratch Glineper8075 |
| #9 the increase in govt jobs may be entirely due to schools reopening although every local govt has a different way of doing their metrics; some people probably were made into contractors for several months and then became employees which confuses the record keeping total govt employment is down considerably since the beginning of the plague and this is mostly an issue of employment in education the Dept of Labor numbers for employment include employers who have been active for at least a year and also misses many employers who have only one or two employees and also there is a major problem with people who are sole propriators, e.g., contract teachers |
| Posted by: Lord Garth 2021-05-07 17:17 |
| #8 Steel prices just tripled. |
| Posted by: Blackbeard Barnsmell6454 2021-05-07 16:23 |
| #7 How many were new government sector hires? 42,000 |
| Posted by: M. Murcek 2021-05-07 16:02 |
| #6 from a discussion today some prospective employees can't work many hours in masks before feeling suffocated, particular in warm rooms with oders |
| Posted by: Lord Garth 2021-05-07 15:30 |
| #5 How many were new government sector hires? |
| Posted by: magpie 2021-05-07 13:33 |
| #4 Also, we have the first President of the US that successfully assumed the Oval Office fraudulently. And the economy is going to adjust WAY down because of such blatant government corruption. |
| Posted by: Blackbeard Barnsmell6454 2021-05-07 13:27 |
| #3 "Unexpected" bad news is making a comeback after four years. |
| Posted by: Tom 2021-05-07 13:26 |
| #2 And 100,000's of thousands of undocumented workers are pouring across the border demanding jobs while the illegitimate president tells the economy he is going to raise taxes after being rocked by a massive pandemic. |
| Posted by: Ebbomoger Speaking for Boskone4589 2021-05-07 12:01 |
| #1 Pee-sucki already eyeing the exit... |
| Posted by: M. Murcek 2021-05-07 11:50 |