The US labor market is ready to hire, which can provide jobs for the industries, regions and workers most affected during the Covid-19 pandemic.
The March Department of Labor report, due to be released Friday at 8:30 a.m. ET, is expected to show that employers have added 675,000 jobs, which would be the strongest monthly gain since the fall.
In addition, economists surveyed by employers on The Wall Street Journal project will add an average of 514,000 jobs each month next year, for a total of more than six million. This will mark the best 12-month period of job creation in decades, but total employment will remain below where it was before the pandemic.
Job recovery – which began late last spring but was suspended in December ̵
“Seismic change is happening in the American economy,” said Beth Ann Bovino, MD. economist at S&P Global. The merger of additional federal incentives, growing consumer confidence and a sense that the pandemic is nearing a fading – despite growing infections in recent weeks – has boosted economic growth and employment, she said.