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US Payrolls Jump By 916,000 In March, Beat Forecasts

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Job growth in the United States rocketted in March, growing at the fastest pace since last summer, a robust economic revival and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs.

Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%.

Most analysts and economists were looking for an increase of around 67o,000 and an unemployment rate of 6%. The total was the highest since the 1.58 million added in August 2020.

 

The only concern for a solid jobs number is the fears of a sharp hike in Covid cases, which may lead to some restrictions. US Bond yields rallied post the strong jobs number.

US Payrolls Jump By 916,000 In March, Beat Forecasts
Read more about: jobs
Story first published: Saturday, April 3, 2021, 7:12 [IST]
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