Estimates from DOW were around a million new jobs. This announcement is going to kill the stock market.
Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers.
Dow Jones estimates had been for 1 million new jobs and an unemployment rate of 5.8%.
Many economists had been expecting an even higher number amid signs that the U.S. economy was roaring back to life.