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The economist who was off by 1.8 million in Friday's jobs report explains why she's doubling down on her call for stellar job growth

1 month ago   |   By Business Insider

Summary List Placement Having the least-correct forecast for April payrolls isn't swaying Aneta Markowska, chief economist at Jefferies.
The US added just 266,000 payrolls last month , falling extremely short of the median economist estimate of 1 million jobs. Where experts were anticipating a strong pick-up in hiring through April, data suggests the easing of lockdowns did little to boost the labor market's recovery.
No economist was as bullish heading into Friday as Markowska, who estimated the country had added 2.1 million payrolls. The forecast was 700,000 payrolls higher than the next...
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The US 'real' unemployment rate fell slightly in April amid an otherwise dismal jobs report

The US 'real' unemployment rate fell slightly in April amid an otherwise dismal jobs report

1 month ago   |   By Business Insider

Summary List Placement The April payrolls data was largely a massive disappointment, but not entirely.
The US economy added only 266,000 jobs last month, according to the Bureau of Labor Statistics, far undershooting estimates calling for an increase of 1 million payrolls. The unemployment rate rose to 6.1% from 6%, and a handful of industries shed jobs despite the easing of economic restrictions.
While nearly all gauges pointed to a slowing recovery, an alternative measure of nationwide unemployment improved slightly from its March level. The "real" unemployment rate previously mentioned...
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