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US job growth unexpectedly softens, falling far below expectations

7 May, 2021 15:10

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FILE PHOTO: A "Now Hiring" sign in Miami, Florida, the US © Reuters / Marco Bello

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Despite bullish predictions and the recovery of the US economy, job growth slowed in April compared to a month earlier, figures released by the Labor Department show.

According to the agency’s report released on Friday, payrolls increased by 266,000 last month, while the unemployment rate edged up to 6.1%. This is well behind analysts’ projections, with economists polled by Reuters forecasting that 978,000 jobs would be added, while a Bloomberg survey projected a hiring surge of 1 million in April.