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April’s jobs report is a big yikes.
The US economy only added 266,000 nonfarm payrolls last month, the Bureau of Labor Statistics announced Friday. That’s way less than 1 million, the median estimate for payroll gains by economists surveyed by Bloomberg. While it was the fourth consecutive month of payroll increases, it was the smallest since September.
As a Morgan Stanley note from economist Robert Rosener’s team stated, “The expected ‘string’ of strong jobs reports has started to look more like a modest trail of crumbs.”
In the process, unemployment has risen again, albeit slightly from 6% details ⇒
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