Five experts explain what April's historic job loss means for markets and economy

Austan Goolsbee, professor at the University of Chicago Booth School and former chairman of the Council of Economic Advisors, Kate Moore, head of thematic strategy at BlackRock's Global Allocation Investment team, and Glenn Hubbard, former CEA chairman and former dean of Columbia Business School, join "Squawk Box" along with CNBC's Rick Santelli and Mike Santoli, CNBC's senior markets commentator, to give their initial reactions to the historic April jobs report.