Many economists had been expecting an even higher jobs number amid signs that the U.S. economy was roaring back to life. Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%. Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers. Professional and business services saw a steep 111,000 decline in jobs in temporary help, while support services lost 15,000 positions. That "real" unemployment rate had peaked at 22.9% in April 2020 as the headline jobless rate hit 14.8%.
