Economy

Covid still weighing on jobs but confidence is coming back

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Labor Secretary Marty Walsh said Friday the Covid-19 pandemic is still weighing on jobs, but he projected optimism about recovery of the U.S. economy as vaccinations continue, saying, “We are starting to see the confidence come back.”

Walsh’s comments on CNBC’s “Squawk on the Street” came shortly after the Labor Department released a disappointing April jobs report, showing that nonfarm payrolls grew by 266,000. Analysts had been expecting more than 1 million new jobs.

“Under normal circumstances — and certainly we are not living in normal circumstances — a 266,000 job gain a month is a good number,” Walsh said. “Unfortunately, we are still in the midst of a pandemic.”

“If you look…



Source cnbc.com

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