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COVID19 WIPED OFF OVER 250,000 US LABOURERS

Author:
Malam Abu.
Date:
2021-06-10 11:52:09


US hiring slow because of a ‘labor shortage’
AP NEWS


Most experts agreed that after a yearlong pandemic, tens of millions of layoffs and widespread disease and death, a likely second straight month of nearly 1 million added jobs would send a clear signal: The economy was bounding back toward full health after a devastating recession.

Instead, the report was a clunker. To nearly everyone’s surprise, employers added a comparatively paltry 266,000 jobs, down drastically from a gain of 770,000 in March, which itself was revised down from an initially much higher figure of 916,000.

Once the shock wore off, economists grappled with a host of questions, starting with: What happened last month — and why?

What did the tepid hiring gain say about the state of the job market and the economy? And is there really a labor shortage?
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