The economy IS recovering….
There seems to be a shortage of people actually going back to work?
The news comes amid concerns about whether a labor shortage, reported in some pockets of the economy, is affecting the recovery. There are still millions of Americans who have not returned to the workforce since massive layoffs in March and April of 2020.
The 266,000 jobs added in April represents a stunning drop-off from the 916,000 jobs initially thought to be added in March — a number that was revised down in this report to 770,000. The March jobs report had bolstered hopes that the economic recovery that had stalled out last year was beginning to rev up again.
“Given the robust expectations of over a million jobs gained, it’s hard to label this anything but a disappointment,” said Joseph Brusuelas, chief economist at RSM….
The U.S. economy remains more than 8 million jobs in the hole from massive job loss of the early months of the crisis, and the rate of job growth needs to be more robust for the country to make a healthy recovery….