US economy adds 916,000 jobs in March

Forecasts were again beaten as the US ramped up its hiring spree buoyed by falling coronavirus infection rates, continued Government support & a fast vaccine rollout. The largest gains were seen in hospitality & leisure as sentiment continues to gear towards a country-wide reopening. The positive data meant the unemployment rate edged down towards 6% but the economy is still shy of over 8.4 million pre-pandemic jobs. Fed Chair Jay Powell was optimistic on job creation in the coming months but warned it will still take some time to get back to maximum employment. U.S stocks climbed to record highs on Monday as investors looked extremely favourably on the highest growth in jobs since August 2020.