March Jobs Report Exceeds Expectations; Manufacturing Payrolls Grow by 53,000
WASHINGTON—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, construction and manufacturing jobs, the Labor Department reported last Friday. Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6 percent.
Manufacturing saw a healthy gain of 53,000, with professional and business services adding 66,000 and construction increasing by 110,000 new jobs. Economists surveyed by Dow Jones had been looking for an increase of 675,000 and an unemployment rate of 6 percent. The total was the highest since the 1.58 million added in August 2020.