Jobs Report Comes In ‘Weaker Than Expected,’ Trump Says It’s ‘A Big Miss From Fake Estimates’

[Valin]

The Daily Wire

Hank Berrien
May 3, 2024

The U.S. Bureau of Labor Statistics (BLS) released its report for April on Friday, and it was bad news for Americans: job growth was far less than had been projected, showing the smallest gain in six months. Additionally, the unemployment rate rose to 3.9% and wage growth slowed.

“The jobless rate tied for the highest level since January 2022. A more encompassing rate that includes discouraged workers and those holding part-time jobs for economic reasons also edged up, to 7.4%, its highest level since November 2021,” CNBC noted.

Nonfarm payrolls only rose 175,000 in April; the average monthly gain had been 242,000 over the prior year. Bloomberg Economics’ Anna Wong and Stuart Paul acknowledged the numbers were “weaker than expected.” James Knightley, chief international economist at ING, said this was “the first time we have seen every part of the report come in weaker than expected for a very long time.”

(Snip)

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