Macro Trends Advisors LLC founding partner Mitch Roschelle warned on Sunday that the U.S. economy is on "shaky footing," despite what many economists and analysts perceived to be a positive April employment report.
On Friday it was revealed that the U.S. economy saw solid job growth in April, suggesting the labor market is still strong despite headwinds from rising interest rates, soaring inflation, a worsening labor shortage and fears of a slowdown.
Employers added 428,000 jobs in April, the Labor Department said in its monthly payroll report released Friday, beating the 391,000 jobs forecast by Refinitiv economists. It marked the 12th consecutive month that job gains topped 400,000. The unemployment rate, meanwhile, held steady at 3.6%, the lowest level since February 2020.
"What often happens is you look at the headline numbers," Roschelle told "Fox News Live" on Sunday.