The recovery from the pandemic is accelerating as employers add 916,000 jobs

The U.S. economy strengthened its recovery from the pandemic in March, with employers adding 916,000 jobs – the highest gain since August, the Department of Labor said. The huge job gain was up from 468,000 jobs reported in February, when it reviewed nearly 100,000 jobs from its initial reading. The gain was much better than economists had expected, with a strong but still modest increase of 647,000 jobs expected. Some of the sectors that achieved major improvements were among the most severely affected by the pandemic-related downturns, including restaurants and bars, which added 176,000 jobs. State and local education jobs increased by 126,000 when schools began to reopen. Hotels and other accommodation added 40,000 jobs, and the category, which includes performing arts, spectator sports and amusement parks, rose to 64,000. Other big gains have been in sectors that have had good results over the past year, despite the recession. Construction added 110,000 jobs as commercial projects increased and construction continued. They also helped earn jobs compared to February, when severe winter storms shut down construction in much of the country. Shipping services such as FedEx (FDX) and United Parcel Service (UPS), which have already seen their biggest job gains in the last year due to growth in online shopping, added another 17,000 jobs. Economists say the report suggests that the labor market may eventually be on track to recover from the pandemic-induced job losses, although it may take some time for Covid to regain its previous level of employment. #FirstMove # CNEnprise # News.

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