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10 things you need to know today: May 8, 2021 Tim O Donnell © Joe Raedle/Getty Images A we are hiring sign in front of a store on March 05, 2021 in Miami, Florida. 1. The Labor Department said Friday the U.S. economy added 266,000 jobs in April, whereas economists had been expecting around 1 million jobs would be added, CNBC reports. The Labor Department had previously said that 916,000 jobs were added in March, though this number was revised down to 770,000 on Friday. The unemployment rate also increased slightly from six percent to 6.1 percent. The report was significantly below expectations, and Axiosdescribed it as the biggest miss, relative to expectations, in the history of the payrolls report. Economist Justin Wolfers wrote that 266,000 jobs being added would be fabulous in normal times, but is utterly disappointing compared to the forecasts, adding, This is a big miss that changes how we think about the recovery. [

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