April's jobs report disappointed Wall Street on Friday as the U.S. economy added far fewer than expected new jobs last month, the Labor Department said Friday, underscoring the uneven nature of the economic recovery despite trillions in spending and record-low interest rates.
The Bureau for Labor Statistics said 266,000 new jobs were created last month, with the headline unemployment rate edging slightly higher, to 6.1%. The April report came in far lower than expert expectations of 978,000. This suggests the gradual reopening of non-essential business, as well as the accelerated vaccine rollout, isn't being played out in labor markets where prospective workers are potentially demanding higher wages.
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