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U.S. Added 916,000 Jobs in March, Beating Experts’ Predictions

People line up for assistance with their unemployment claims in Frankfort, Ky., June 18, 2020 (Bryan Woolston/Reuters)

The U.S. economy added 916,000 jobs in March, far exceeding experts’ predictions, while unemployment dropped to 6 percent, according to a new Department of Labor report.

The increase was driven by gains in leisure and hospitality, public and private education, and construction, the report said.

Economists surveyed by Dow Jones had predicted an increase of 675,000 and an unemployment rate of 6 percent.

The growth, which took place at the fastest pace since last summer, comes as vaccination efforts are ramping up nationwide and encouraging companies to increase hiring.

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