The United States could have added over a million jobs in April as more businesses reopened after COVID-19 lockdowns, economists were quoted by CNBC.
- Non-farm payrolls climbed 916,000 in March. Unemployment benefits have also declined to a pandemic low of 553,000 for the week ending April 24.
- Morgan Stanley economists expect the job growth at 1.25 million, coming from “modest” increases in hiring and “substantial” declines in the firing rate.
- Capital Economics expects non-farm payrolls to have grown 1.2 million in April, as the shortfall is likely to shrink “rapidly” as the economy adds more jobs especially in sectors hit hardest by the pandemic.
- Barclays Chief U.S. Economist Michael Gapen expects payrolls for the month between 900,000 and 1 million, with risks tilted to the upside due to fiscal stimulus and vaccinations.
- Should hiring surpass a million, this will be the first time in seven months or since August 2020 before the United States entered its second wave of COVID-19.