April 2021 Jobs Report: Disappointing Results, Below Expectations

May 11, 2021 by Bautis Financial

The April Jobs report was depressing. But the GDP still rose 6.4% in the first quarter. Hopefully May’s report will be back on track.

The April Jobs Report, released on Friday, was well below expectations. It demonstrates the gap between Wall Street’s recovery and main street’s recovery.

Only one fourth of the expected job growth was added.
Instead of the unemployment rate going down, it went up to 6.1%.

In spite of the bad news, the markets barely reacted. The GDP rose 6.4% (annualized pace) in the first quarter. Economists will be waiting to see if May saves the day and reduces April to an anomaly.

Watch President Joe Biden’s remarks on the Jobs Report.