The U.S. Bureau of Labor Statistics (BLS) recently released its April Job Openings and Labor Turnover Summary. The report found that the economy added 175,000 nonfarm payroll jobs in April, well below the Dow Jones 240,000 estimate. To put this in perspective, the economy has added an average of 242,000 new positions a month over the past 12 months.
“This is the jobs report the Fed would have scripted.”
Seema Shah, chief global strategist, Principal Asset Management
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