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Problem for Joe Biden? Retail Sales Reported Flat in April.
The retail sales number continues a season of mixed economic news. On the one hand, vaccination rates are rising and coronavirus restrictions are being lifted, and life is slowly returning to normal, ahead of a summer in which Americans will likely do the traveling, and spending, that they didn’t do in the summer of 2020.
A month ago, the weekly release of retail sales figures showed a 9.8 percent increase in March, which blew past analyst expectations. The consensus was that the stimulus checks from the American Rescue Plan were driving purchases, providing a positive economic indicator.
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Listen • 3:22
A We are hiring sign is paired with a pandemic-themed sign in the window of a store in Miami. Restaurants and other in-person businesses are looking to hire more workers at a time when some are wary of returning to work or are busy with caregiving.
Updated May 7, 2021 at 1:18 PM ET
Hiring unexpectedly slowed last month as businesses struggled to keep pace with booming demand from newly vaccinated customers.
U.S. employers added just 266,000 jobs in April, according to a monthly snapshot from the Labor Department. It was the weakest month of job growth since January. We knew this would not be a 100-day battle, Treasury Secretary Janet Yellen told reporters at the White House. Today s jobs report underscores the long-haul climb back to recovery.
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