US economy adds just 266,000 jobs in April, significantly less than predicted
The United States economy added just 266,000 jobs in April, the government reported Friday, which was a disappointing month of growth given economists predicted a far greater return for the labour force.
Prior to the release of the report, economists expected job creation to be around 1 million for the next couple of months as the economy booms and more people receive a Covid-19 vaccine – indicating the country was recovering from the pandemic. Unemployment rates were also estimated to drop from the 6 per cent recorded in March to about 5.8 per cent.
Instead, the unemployment rate slightly rose to 6.1 per cent in April.
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