The latest jobs report revealing record U.S. unemployment highlights a growing rift investors are struggling to reconcile: a rallying stock market and stumbling economy.
Gains in U.S. stocks accelerated Friday after April’s nonfarm payrolls report showed unemployment rose to 14.7%, the highest level on record. It was the latest head-scratching development for many market observers, who have been parsing a steady stream of abysmal economic data while watching the U.S. stock market stage a recovery.
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