WASHINGTON—U.S. jobs growth for April was far lower than what the market had predicted, adding to the worries that excessive stimulus payments could have undesirable side effects in the long term, making the road to recovery rocky. The April jobs report was the biggest miss on record. According to the Bureau of Labor Statistics, the U.S. economy added 266,000 jobs last month versus an estimate of 1 million. The unemployment rate rose to 6.1 percent from 6.0 percent in March. Some economists believe that the path to full employment could be much longer than expected. “Going forward, U.S. job gains will be somewhat harder as they will depend on organic growth in demand and not just state and local governments easing of business restrictions,” Scott Anderson, chief economist at Bank of the West in San Francisco, wrote in a report. The economy is still 8.2 million jobs below pre-COVID levels. …
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