Highest gains are in the service sector.
Ahead of the coming release of the monthly job numbers by the Labor Department, a payroll company has reported the private sector saw a significant boost in jobs this month. As states continue to lift coronavirus restrictions, ADP states that 517,000 new positions have been added in March, the highest since September 2020.
The majority of the new jobs, 85 percent, came from a rebound in the service sector, which was the hardest hit during the pandemic. Manufacturing and construction saw notable increases as well.
“We are continuing to keep a close watch on the hardest-hit sectors but the groundwork is being laid for a further boost in the monthly pace of hiring in the months ahead,” said Nela Richardson, ADP’s lead economist.
The economy is still more than 9 million jobs behind its pre-COVID-19 numbers. Many months of consistent significant increases in employment will be required to make up the remainder.
As the Lord Leads, Pray with Us…
- With thanksgiving for the rebound being seen in hiring.
- For the U.S. governing officials who are evaluating and determining the remaining economic limitations placed on employment and business.
- For the Labor Department as they tabulated most recent employment data.
- For the millions of Americans still out of work.
Sources: The Hill, Business Insider
