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The pandemic’s still weighing down the economy, despite some encouraging signs.
The number is 266,000 jobs, sharply lower than in March and a sign that some businesses are struggling to find enough workers.
“There’s not really one story that explains the entire labor market,” Chris Hyams says.
Employers added 916,000 jobs in March and the unemployment rate fell to 6% as vaccination spreads and the economy reopens.
The March increase — the most since August — was nearly double February’s gain of 468,000.
The longer people are away from the workforce, the longer it takes to return.
The February gain marked a sharp pickup from the 166,000 jobs that were added in January and a loss of 306,000 in December.
Some employers remain cautious about hiring, even as more of the economy reopens.
The 12.5 million jobs deficit, the 3.9 million low-wage service jobs gone, the 23 million un- and underemployed.
This has many economists predicting the economic pain of the pandemic will last long after the economy “recovers.”