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U.S. economy in April added 266,000 jobs, below expectations in pandemic recovery

The economy still remains about 7 million jobs short of its pre-pandemic level.

Updated: May 7, 2021 - 8:42am

The U.S. economy in April added 266,000 new jobs, the Bureau of Labor Statistics reported Friday.

The increase fell below economists expectations. They forecasted 975,000 more jobs would be added last month, based on a survey by FactSet, according to the Associated Press.

Analysts attributed the gains to the decline in COVID-19 infections, fewer pandemic-related restrictions and an increase in consumer spending.

The economy adding 916,000 new jobs in March.

The economy still remains about 7 million jobs short of its pre-pandemic level, the wire service also reports. 

The Biden administration’s $1.9 trillion rescue package, approved in early March, has also helped keep the economy from lapsing into a deep recession as a result of the roughly 14-month-long pandemic, adding $300 to weekly unemployment benefits.