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World

Hiring Expands in US in March: What Sectors Hired the Most vs Least

RNN Staff

April 5, 2021

World

Hiring Expands in US in March: What Sectors Hired the Most vs Least

RNN Staff

April 5, 2021

Photo by Henrique Félix

The hiring market experienced a broad surge in March, showing the strongest job-growth gains in 7 months.

Non-farm payrolls increased by 916,000 last month and February employment was revised up to a 468,000 gain, according to a Labor Department report Friday. The median estimate in a Bloomberg survey of economists was for a 660,000 rise. The unemployment rate fell to 6%.

According to newly confirmed White House Secretary of Labor, Marty Walsh: "That’s certainly good news for over 900,000 working men and fam- — men and women and families in this country. We saw significant job growth in most sectors of our economy.  And it’s clear that the National Vaccine Program is not only saving lives, but it’s enabling more people to get back to work."

Here are the broad sectors and how they are performing:

As the job market performs a whipsaw recovery, we are tracking the drivers. Not surprisingly, Travel & Leisure lead the pack, outpacing the next-highest performer (Government) by over 100%. This is clearly led by an urge nationally to reopen, coupled with the vaccine rollout, and some governors opting to fully reopen as early as possible. The next, Government, shows a new, activist administration creating new roles, as well as a national push to hire for vaccine delivery. This may lapse in the coming months.

Good news, particularly for one sector
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