A U.S. McDonald’s hiring billboard
The U.S. Department of Labor announced Friday (April 2) that non-agricultural jobs increased by 916,000 in March, ahead of market expectations, and the unemployment rate fell to 6 percent, but the employment participation rate is still lower than in February last year, and it will take time for the economy to recover.
The Labor Department’s report showed that the U.S. economy is growing strongly, driven by the rapid increase in the number of vaccinations and the resumption of work in all states, and all industries have increased their manpower. The employment participation rate rose to 61.5%, but still lower than 63.3% in February last year, and the number of employed people was still 7.9 million less than in February last year.
Bloomberg believes that the data reflects that the economy is recovering and the laborers who lost their positions due to the epidemic will be re-employed in the next few months. Analysts estimate that it will take at least two years for the labor market to recover.
The CDC said that people who have received the new crown vaccine can resume travel within the U.S. According to the new travel guidelines, people who have received the vaccine do not need to be tested for the virus before or after travel, nor do they need to quarantine themselves.
Recent Comments