U.S. Added Just 266,000 Jobs in April, Far Below Expectations

Worker in restaurant kitchen

The U.S. economy reported an increase of 266,000 jobs in April and the unemployment rate rose slightly to 6.1%, according to Department of Labor data released Friday.

Total non-farm payroll employment increased by 266,000 in April, according to the Bureau of Labor Statistics (BLS) report, and the number of unemployed persons ticked up to 9.8 million. Economists projected a million Americans would be added to payrolls prior to Friday’s report, according to The Wall Street Journal.

“The pieces are really coming together for a burst in activity,” Sarah House, senior economist for Wells Fargo’s Corporate and Investment Bank, told the WSJ. “We’re expecting to see the labor market recovery shift into an even faster gear with the April jobs report.”

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Crom Carmichael Weighs in on Oracle Move and Middle Tennessee’s Real Estate Quandary

Wednesday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed the original all-star panelist Crom Carmichael in studio to discuss Oracle’s big move to Nashville’s East Bank and the consequences of a real estate boom in Middle Tennessee.

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Ohio Lawmakers Form Business First Caucus Aimed to Help Small Business

A group of Ohio lawmakers want to focus on the state’s below average ranking for economic performance by creating a bipartisan Business First Caucus.

The group, headed by state Sens. Mark Romanchuk, R-Ontario, and George Lang, R-West Chester, said it’s aimed at small businesses, staying at the center of major tax and regulatory reform while promoting ideas and legislation that positively impact small business in the state.

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Utah Tribe Calls Biden’s Order on New Oil Drilling a ‘Direct Attack’ on Its Economy

A Native American tribe in Utah said a Biden administration order blocking new permits to drill for oil and gas on federal lands is a “direct attack” on its economy and sovereignty.

The Ute Indian Tribe is seeking a waiver from Order 3395, which Scott de la Vega, the acting secretary of the interior, implemented on Jan. 21.

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Georgia Department of Economic Development Seeks State Funding to Restore Tourism Industry

The Georgia Department of Economic Development (GDEcD) is asking for an additional $1 million to stimulate the state’s hard-hit tourism industry.

GDEcD Commissioner Pat Wilson told lawmakers Friday the state has lost billions of tourism dollars and has seen massive industry job loss because of the COVID-19 pandemic.

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China Factory Activity Shrinks for First Time in Two Years

China’s factory activity shrank in December for the first time in more than two years, an official survey showed Monday, intensifying pressure on Beijing to reverse an economic slowdown as it enters trade talks with the Trump administration. The purchasing managers’ index of the National Bureau of Statistics and an…

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The Fed Finally Begins Rolling Back its Portfolio

by Robert Romano     The Federal Reserve has dumped an eye-popping $343 billion of U.S. treasuries and mortgage-backed securities since it began its policy normalization program in Sept. 2017. $116 billion of that, or more than a third, has been since Sept. 2018 as the nation’s central bank has…

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Nashville Becoming ‘Chic Urban Playground for the Wealthy,’ Vanderbilt Professor Tells Wall Street Journal

Nashville City at night

The Wall Street Journal has taken notice of how Nashville is becoming gentrified and is in danger of becoming a “chic urban playground for the wealthy.” James Fraser, an urban studies professor at Vanderbilt University, told The Wall Street Journal the city needs 30,000 more units of affordable housing and…

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