The Great Biden Jobs Job

The US economy added nearly a million new jobs in March alone as President Biden and the Democrats are getting America back to work after the Trump Depression.

Job growth boomed in March at the fastest pace since last summer as stronger economic growth and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs, the Labor Department reported Friday.

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

Economists surveyed by Dow Jones had been looking for an increase of 675,000 and an unemployment rate of 6%.

A more encompassing measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons dropped to 10.7% from 11.1% in February.

The labor force continued to grow after losing more than 6 million Americans at one point last year. Another 347,000 workers came back, bringing the labor force participation rate to 61.5%, compared to 63.3% in February 2020.

There are still nearly 5 million fewer Americans employed than a year ago while the labor force is down 2.2 million.

Leisure and hospitality, a sector critical to restoring the jobs market to its former strength, showed the strongest gains for the month with 280,000 new jobs. Bars and restaurants added 176,000 while arts, entertainment and recreation contributed 64,000 to the total.

Even with the continued gains, the sector remains 3.1 million below its pre-pandemic total in February 2020.

With students heading back into schools, education hiring boomed during the month as well. Local, state and private education institutions combined to hire 190,000 more employees for the month.

Construction also saw a healthy gain of 110,000 new jobs, while professional and business services added 66,000 and manufacturing increased by 53,000.

In addition to the powerful gains for March, previous months also were revised considerably higher. The January total increased 67,000 to 233,000, while February’s revisions brought the total up by 89,000 to 468,000.

So yes, with the upward revisions in January and February, we added over a million new jobs this month.

 

One million. And yet we still have millions to go to get us out of the mess Donald Trump, the "CEO of the United States" made. We'll need another five or six months like this just to get back to a year ago, and for a generation of younger workers, a lifetime of economic damage has already been done.

But never tell me again Republicans have any idea what it means to grow an economy.