Tue. Aug 3rd, 2021

The U.S. economy added close to 920,000 jobs in March, the Labor Department said Friday in its monthly report.

(Photo Courtesy: UPI.com)

The unemployment rate dipped to 6 percent in March, the report noted.

The report showed an addition of 916,000 jobs, beating many analysts’ expectations of about 850,000.

As expected, the figures show a large number of American workers returning to the workforce. Even stronger numbers in April and May are expected.

“Job growth in March was widespread, with the largest gains occurring in leisure and hospitality, public and private education and construction,” the department said.

There were 110,000 additional construction jobs last month and the services sector added 66,000. Manufacturing added 53,000 and transportation and warehousing jobs rose by almost 50,000.

About 10 million people were counted as unemployed in February, compared to 5.7 million in February 2020, when the unemployment rate was 3.5 percent.

“The number of unemployed persons, at 9.7 million, continued to trend down in March but is 4 million higher than in February 2020,” Friday’s report said.

The department also said the share of U.S. workers who work remotely – due largely to the coronavirus disease 2019 (Covid-19) – fell last month to 21 percent, a decline of almost 3%.

On Wednesday, ADP and Moody’s Analytics reported an addition of 517,000 jobs in March. The private-sector assessment showed the largest gains in midsize businesses (188,000), with small companies adding 174,000 and large ones 155,000.

The Labor Department said Thursday almost 720,000 U.S. workers filed new unemployment claims last week. SOVEREIGNPH

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