10 things you need to know today: May 7, 2022
Amid inflation concerns, the U.S. economy added more jobs last month than expected. The Labor Department said Friday the U.S. added 428,000 jobs in April, more than the roughly 400,000 that experts were predicting. The unemployment rate stayed at 3.6 percent. “Job growth was widespread, led by gains in leisure and hospitality, in manufacturing, and in transportation and warehousing,” the Bureau of Labor Statistics said. Last month, the Labor Department said 431,000 jobs were added in March, though this number was revised down on Friday to 428,000. Friday’s report was released in the wake of U.S. gross domestic product contracting 1.4 percent in the first quarter of 2022, the worst quarter since the pandemic began.
