Labour finance spokesman John McDonnell acknowledged the party had suffered a tough night, but told ITV that the results were not "the wipeout that people expected" and insisted it is still "all to play for" in the national vote.
The number of councillors was reduced during this election from 62 to 57 but this did not stop the Conservatives from gaining 10 extra seats at the expense of Labour, who lost 12.
The Sun reports that the leader's allies have blamed the colossal defeat of UKIP for the poor results, in addition to the attempts of some of Corbyn's own MP's to tarnish his reputation.
By calling an early national election for next month, May has made the local votes a gauge of her leadership, and many Conservative candidates have campaigned in recent days using her campaign mantra of "strong and stable leadership".
The party even lost control of the city council in Glasgow, Scotland's biggest city and once the staunchest of Labour strongholds.
It comes as May said she is "taking nothing for granted" in the June 8 General Election despite an emphatic set of Conservative local election victories which have put her firmly on track to substantially increase her House of Commons majority. "We knew it was going to be a hard night".
Referring to her Brexit challenges, she added: "The reality is that today, despite the evident will of the British people, we have bureaucrats in Europe who are questioning our resolve to get the right deal".
Progressive Moon Jae-in elected South Korea president
He has repeatedly pledged during his campaign that South Korea would have an independent voice in the worldwide community. Moon Jae-in has been elected as the new President of South Korean in a landslide victory, according to an exit poll.
She said: "The issue at the heart of this election, not just in Perth and Perthshire but across Scotland, is a very straightforward one. We've gained seats in some places, we've held councils that many people predicted we wouldn't".
One of the biggest blows for Labor was to watch the former John Lewis boss Andy Street narrowly win the West Midlands mayoralty for the Conservatives, in a sign that May could be making inroads into traditional Labor strongholds.
The former first minster continued: "I've never taken any election battle for granted, I've represented the north-east of Scotland for 30 years and every election the Tories tell me they are going to beat me and every time they fall short".
The party failed to break through against the Tories in south-west England - however made advances in some General Election target seats like Eastleigh and Wells.
The Conservatives' performance was the best by any governing party in 40 years, inflicting heavy losses on Labour.
And it was a disastrous day for the anti-EU, anti-immigration UK Independence Party, which lost all 114 seats it was defending, and won only one new one.
UKIP leader Paul Nuttall said it had been "a victim of its own success" over Brexit and that the party was prepared to pay the price of losing seats to the Tories because it had won the crucial European Union referendum. The former Secretary of State for Health and the politician with the most handsome eyes (or is it just me?) won just over 63% of the vote, making him one of the most important Labour leaders in the country. Likewise, UKIP was virtually wiped out by a Conservative Party which has annexed their pro-Brexit, anti-globalist agenda.
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