Our economy is preparing for the perfect storm likely to be created by the end of unemployment insurance and supplemental payments with additional headwinds
Possible reasons for the miss include too-generous unemployment benefits and temporary layoffs.
Experts say a labor shortage isn t necessarily the main issue, and the news may not be as bad as it seems.
Economists thought that the economy would add a whole lot of jobs about a million, to be exact in April. Friday s job reports turned that thinking upside down with a big surprise: The US economy added 266,000 jobs in April, falling significantly short of expectations.
In fact, unemployment even went up.
It s a twist that left economists and economy journalists alike befuddled. It was especially shocking in light of March s report showing a gain of about 900,000 jobs, and in a double whammy, the April report revised that figure down to 770,000. Also, the unemployment rate rose from 6% to 6.1%, while labor force participation actually climbed to 61.7% from 61.5%, signaling that more Americans are looking to return to work but also that more are getting classified as unemployed.
Meet Americaâs Top Recruiting And Staffing Firms 2021
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For recruiting and staffing firms, this past year posed a particularly heady mix of challenges and opportunities. They had to meet the rapidly changing employment needs of their clients, all while working remotely and during the worst-ever month for recruiting firm placements, according to the American Staffing Association. Whether they were helping clients find executives to guide them through the crisis or employees to keep vital services running, recruiting and staffing firms were essential.
In partnership with Statista,
Forbes took a closer look at the executive, professional and temporary staffing recruiting firms that were able to thrive in 2020 and position themselves at the front of the pack in 2021.