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Here's how Goldman Sachs' top economist explains the huge jobs report miss

Jan Hatzius, chief economist of Goldman Sachs.
Jonathan Fickles | Bloomberg | Getty Images

Goldman Sachs chief economist said Friday that the unexpectedly weak April jobs report was likely due to statistical issues and did not signal hidden weaknesses in the U.S. economic recovery.

The U.S. economy added 266,000 jobs in April, according to the Labor Department, coming in well under expectations. However, Goldman's Jan Hatzius said on CNBC's "Squawk on the Street" that the report appeared to be "distorted" and shouldn't change minds about the direction of the U.S. economy.

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