Economists had expected U.S. employers to add a seasonally adjusted 210,000 jobs in February and the unemployment rate to hold at 6.3%, according to a Wall Street Journal survey.
The pickup could be a sign of renewed momentum for the labor market, which lost jobs in December. But the monthly gain did little to recover the nearly 10 million jobs still missing from the 22 million positions lost last March and April at the start of the pandemic. “The recent hiring trend is just not cutting it in terms of making up for all the jobs last spring” said Nela Richardson, a Ph.D. economist at human-resources software firm Automatic Data Processing Inc. “But as we reopen the economy, inch-by-inch, that will unleash consumer spending and drive job growth, especially industries that have been most severely affected by the pandemic.”
Reduced business restrictions, more people receiving vaccines and a lower level of Covid-19 infections relative to a January peak are contributing to increased economic activity and should translate into more robust hiring, Dr. Richardson said. She added that restaurants, hotels, concert venues and stadiums—all part of the hospitality industry that lost some 4 million jobs last year—will lead what she expects to be a spring burst in hiring.
There is no greater joy than having financial stability and a life free of debts, that’s why I keep tweeting a comment about gigsfrid
WSJ, 👍🏼👏🏼❤️🇺🇸
This means less stimulus. Sell everything
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.