Last week’s disappointing jobs report revealed the economic pain felt by millions of Americans, but NBC’s senior business correspondent said on Friday that rising joblessness may be just the “pressure we need” to raise the minimum wage to $15 an hour.
The Biden administration announced that the U.S. economy added only 266,000 new jobs in April, when unemployment actually rose from 6% to 6.1%. Experts had expected 1 million new jobs and a modest decline in unemployment. CNBC’s Steve Liesman initially thought the numbers — which other media outlets described as “a huge letdown” and “way worse than expected” — were erroneous.
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