U.S. Job Growth Accelerates In March; Unemployment Rate Falls To 6.0%

U.S. employers hired more workers than expected in March, spurred by increased vaccinations and more pandemic relief money from the government, cementing expectations that an economic boom was underway. Nonfarm payrolls surged by 916,000 jobs last month, the Labor Department said on Friday. That was the biggest gain since last August. Data for February was revised higher to show 468,000 jobs created instead of the previously reported 379,000. Economists polled by Reuters had forecast payrolls increasing by 647,000 jobs in March. The unemployment rate fell to 6.0% last month from 6.2% in February. The unemployment rate has been understated by people misclassifying themselves as being “employed but absent from work.” Read more at Reuters.