US job growth misses all estimates in April; unemployment rate at 6.1%

Employment at temporary-help agencies and transportation and warehousing declined sharply.

U.S. job growth unexpectedly softened in April from the prior month, suggesting that difficulty attracting workers is slowing momentum in the labor market.

Payrolls increased 266,000 after a downwardly revised 770,000 March increase, according to a Labor Department report Friday that fell well short of projections. Economists in a Bloomberg survey projected a 1 million hiring surge in April. The unemployment rate edged up to 6.1%, though the labor-force participation rate also increased.

Treasury yields plunged, while inflation expectations spiraled downward and dollar turned sharply lower. U.S. stock futures maintained gains. The eurodollar market pushed back its