Economy adds 266K jobs in April, far below expectations

The U.S. economy added 266,000 jobs in April and the unemployment rate rose to 6.1 percent, an unexpectedly poor showing falling well below expectations.

The less-than-expected showing exposed gaps in a recovery that some economists were worried would “overheat” by recovering too quickly.

Economists were expecting roughly a million new jobs in the April report and a drop in the unemployment rate. Some firms had projected increases as high as 1.3 million.

The Labor Department report released Friday represents the first month of the second quarter, which economists expected to see some of the highest growth rates in decades.

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