That’s a good chunk more than economists were expecting, making this jobs report the 12th out of the last 13 to come in “hot.
The milestone comes just three years after the Covid-19 pandemic caused mass layoffs that pushed the Black unemployment rate as high as 16.8%. While on its face this is promising news, the rate decline was accompanied by a drop in Black labor force participation and employment, said Heidi Shierholz, a former Labor Department chief economist who now serves as the president of the Economic Policy Institute. “Make no mistake, the Black [unemployment] rate is still too high,” Shierholz tweeted.
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US adds a strong 253,000 jobs in April despite Fed's rate hikesAmerica's employers added a robust 253,000 jobs in April, evidence of a labor market that still shows surprising strength despite rising interest rates, chronically high inflation and a banking crisis that could weaken the economy.
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US adds a strong 253,000 jobs in April despite Fed's rate hikesAmerica's employers added a robust 253,000 jobs in April, evidence of a labor market that still shows surprising strength despite rising interest rates, chronically high inflation and a banking crisis that could weaken the economy.
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