Go figure: President BIden on the hot seat for economic analysts' boneheaded jobs forecast

 

Boston Globe, 5/7/2021

The 266,000 jobs added in April marked a steep drop from the previous month and came in far below analysts’ forecasts of nearly a million new hires driven by COVID restrictions easing. The unemployment rate edged up to 6.1 percent, the first increase since the recovery began, but for a good reason — more people were actively looking for work. 

Economists cautioned not to read too much into one report and said the economic recovery remained on track, with the more reliable three-month average of job gains at a robust 524,000. The stock market agreed, with major indexes rising despite the news.

The GOP, of course, used the report to bash the unemployed.

New York Times, 5/7/2021