The economy appears to be struggling under President Joe Biden, according to new jobs report that was released on Friday morning.
Top lines from financial reports:
- CNBC: Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers. Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%.
- BLOOMBERG: The numbers are out, and on the top line they are way worse than expected. Something seems very off: only 266,000 jobs created in April, and the unemployment rate ticked up to 6.1%, according to the report.
CNN’s lead item in the 800 hour: all about the growing inflation risk and rising prices of many American goods.
— Josh Kraushaar (@HotlineJosh) May 7, 2021
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