Provided by Dow Jones
By Sarah Chaney Cambon and Gwynn Guilford Employers likely added jobs at a robust pace for the second straight month in April, signaling a speedy economic recovery from last year s historic downturn. Economists expect payrolls grew by one million in April after rising by 916,000 in March. They project the unemployment rate fell to 5.8%, down from 6% in March and a record-high 14.8% last April when the pandemic struck. Higher vaccination rates, fiscal stimulus and easing business restrictions are converging to support an economic boom across the U.S. The pieces are really coming together for a burst in activity, said Sarah House, senior economist for Wells Fargo s Corporate and Investment Bank. We re expecting to see the labor market recovery shift into an even faster gear with the April jobs report.
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By Thomas Gryta and Theo Francis Consumers are splurging on cars and furniture and facing extended waits for delivery. Restaurants and gyms are reopening and struggling to find workers. Factories and home builders are trying to ramp up but are short on semiconductors or raw materials. Federal Reserve officials and most economists largely play down supply and cost problems as transitory, saying they aren t widespread enough to threaten corporate profits or the broader U.S. economy for long, especially amid strong sales. But problems are acute for some individual businesses and even entire industries. Executives from gadget giant Apple Inc. to mattress seller Tempur Sealy International Inc. said last week that supply-chain issues could curb their growth in the short term. Others have responded by raising prices on everything from diapers to air conditioners.
Provided by Dow Jones
By Thomas Gryta and Theo Francis Consumers are splurging on cars and furniture and facing extended waits for delivery. Restaurants and gyms are reopening and struggling to find workers. Factories and home builders are trying to ramp up but are short on semiconductors or raw materials. Federal Reserve officials and most economists largely play down supply and cost problems as transitory, saying they aren t widespread enough to threaten corporate profits or the broader U.S. economy for long, especially amid strong sales. But problems are acute for some individual businesses and even entire industries. Executives from gadget giant Apple Inc. to mattress seller Tempur Sealy International Inc. said last week that supply-chain issues could curb their growth in the short term. Others have responded by raising prices on everything from diapers to air conditioners.