What the April jobs report means for you, your employer, and the Fed | CNN Business

That’s a good chunk more than economists were expecting, making this jobs report the 12th out of the last 13 to come in “hot.

The milestone comes just three years after the Covid-19 pandemic caused mass layoffs that pushed the Black unemployment rate as high as 16.8%. While on its face this is promising news, the rate decline was accompanied by a drop in Black labor force participation and employment, said Heidi Shierholz, a former Labor Department chief economist who now serves as the president of the Economic Policy Institute. “Make no mistake, the Black [unemployment] rate is still too high,” Shierholz tweeted.

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