The economy added 916K jobs in March, unemployment fell to 6% as states eased restrictions on businesses, vaccinations spread
U.S. hiring kicked into a higher gear in March as employers added a booming 916,000 jobs amid falling COVID-19 cases, a relaxation of business constraints in many states and a growing number of Americans receiving vaccinations.
The unemployment rate dropped from 6.2% to 6%, the lowest in a year, the Labor department said Friday.
The advances, the most since August, were again driven by substantial gains at restaurants and bars, as well as construction and education.
Economists surveyed by Bloomberg expected 643,000 job gains.
Infrastructure and the economy:Biden’s $2 trillion infrastructure plan would lift economy but higher taxes may hamper growth until projects roll out
Where’s my check? Stimulus checks sent to 130M Americans so far. Delayed payments for some Social Security beneficiaries to roll out.