Jobs Are Booming

April 5, 2021

When the scientists said “15 days to slow the spread,” some of us actually believed that by Easter the shutdowns would end. That was last year. Now, a full year, and $5 trillion in government spending later, we may finally be getting our wish.

On Good Friday, the Bureau of Labor Statistics released the March 2021 employment data, and payrolls increased a staggering 916,000 for the month, easily beating the consensus expected 660,000. Jobs increased most in leisure & hospitality (up 280,000), construction (up 110,000), and education and health services (up 101,000). Meanwhile, manufacturing jobs increased 53,000, while government jobs rose 136,000 (almost all in education services).

This is what we should expect as unprecedented shutdowns ease. As we wrote weeks ago, the best stimulus is a COVID vaccine (and herd immunity) which gives people confidence to return to more normal life…

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