The U.S. added a whopping 916,000 jobs and the unemployment rate fell to 6 percent in March as the recovery from the coronavirus recession chugged ahead, the Labor Department reported Friday.
The March jobs report showed the U.S. economy picking up speed as COVID-19 vaccinations accelerated, restrictions eased and President Biden signed a $1.9 trillion relief plan meant to give struggling households and businesses a bridge to the other side of the pandemic.
Economists had projected the U.S. to gain 675,000 jobs in March as consumer and business confidence rose, manufacturing activity sped up and workforce management companies reported steady rises in hiring and hours worked. Continue reading.