U.S. President Joe Biden on Friday (April 2) heralded data that showed the U.S. economy created the most jobs in seven months in March but warned Americans that the progress on the economy and fighting the coronavirus could be reversed.
“The progress we have worked so hard to achieve, can be reversed,” Biden told reporters.
Nonfarm payrolls surged by 916,000 jobs last month, the biggest gain since last August.
The U.S. economy created the most jobs in seven months in March as more Americans got vaccinated and the government doled out additional pandemic relief money, marking the start of what could be the strongest economic performance this year in decades.
The Labor Department’s closely watched employment report on Friday suggested the jobs market has finally turned the corner after hitting a ditch in December. All industries added jobs last month and more people rejoined the labor force. A measure of the economy’s ability to create employment also improved.
But the road to full recovery remains long. More than four million Americans have been unemployed for over six months.
Data for February was revised higher to show 468,000 jobs created instead of the previously reported 379,000. Still, employment remains 8.4 million jobs below its peak in February 2020.
(Production: Deborah Lutterbeck)