New jobs fall way short of expectations - Closing Bell - Marketplace Minute - May 7, 2021

050721 Ho/MM Closing Bell/Karr Episode Title: New jobs fall way short of expectations - Closing Bell Episode Summary: Stocks close up after jobs report; restaurants and bars add most jobs; consumer credit rises GONG :02 This is the Marketplace Minute. I’m Justin Ho. STORY 1 Stocks…closed up on Friday. The Dow … rose two thirds of a percent. The S&P gained three quarters of a percent. And the NASDAQ added nine tenths percent. STORY 2 The economy added two hundred and sixty six thousand jobs last month. That’s WAY less than the million or more new jobs...some economists had predicted. Most of the hiring that DID happen last month...happened at restaurants and bars. Right now … there are 8.2 million fewer jobs... ...than there were before the pandemic. STORY 3 The unemployment rate...ticked up to 6 point 1 percent. That’s partially because more people joined the job hunt. Still...many employers say they’re struggling to find employees. At least...at the wages...that they’re offering. STORY 4 *** CUT THIS FOR DEMO PUBRADIO VERSION *** And...people borrowed more in March… ...according to the Federal Reserve. Credit card debt rose...along with auto loan… ...and student loan debt. CLOSE I’m Justin Ho with the Marketplace Minute. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices