The release of April’s jobs report on Friday stunned economists, and a CNBC reporter, who predicted the economy would add significantly more jobs.
The report: According to the Bureau of Labor Statistics, U.S. businesses added only 266,000 new jobs in April, roughly a quarter of the expected figure.
- As the country begins to reopen amid the coronavirus pandemic, experts predicted a much bigger spike in employment.
- 9.8 million Americans remain unemployed.
- Despite rising consumer spending, for a variety of reasons, many businesses are struggling to find enough people to hire.
The reaction: The lackluster April jobs report momentarily confounded CNBC senior economics reporter Steve Liesman when he broke the news to his network’s viewers on Friday.
- “It looks like 266,000. It looks like it was a big disappointment at 266, but maybe I have that wrong,” Liesman said on air. “Yes, 266 is correct … We have some issues here.”
