Gauging U.S. Economic Momentum With Strong April Jobs Report

The Labor Department reported a big beat on jobs growth for April with 428,000 added versus the expected 380,000. Despite reductions in labor productivity and a weaker Q1 GDP, the job figures promoted some optimism among analysts. Jeffrey Cleveland, the chief economist for investment firm Payden & Rygel, joined Cheddar to break it down. "I know that Q1 GDP was negative and people are concerned about that, concerned about recession but in real-time, I put my money on the payroll data," he said. "And that continues to look very, very strong. So, the U.S. economy has very good momentum in my opinion."
We use cookies and similar technologies on this site to collect identifiers, such as IP address, and cookie and device IDs as described in our Privacy Policy.