“It shows that the economy is healing...”
Chief market strategist Quincy Krosby, Prudential Financial, on a better than expected job report showing more than 900,000 jobs created in March.
apr 3, 2021
Economists expected 675,000 jobs but data showed job growth of 916,000.
- The unemployment rate fell to 6%.
- Perspective: The economy is still “down” more than 5 million jobs since last year at this time.
- Interesting: 1 out of 5 people still teleworked in March.
- Where were jobs added? Leisure and hospitality, education, and construction – Here's the report.
- Why It Matters: The better than expected report has some hopeful for an economic rebound as more restrictions lift. However that optimism is tempered by concerns of another wave of Covid-19. With millions still out of work and many who left the workforce and are therefore not counted in the monthly data (particularly women who more often had to leave jobs to care/educate children), America still has a ways to go for a full job recovery.