1 million more jobs recovered
The US economy added another 915,000 jobs in March, while the figures for January and February were also revised up by a combined 156,000.
This was a big print which blitzed expectations of a 660,000 gain.
Since April 2020 13.8 million of the 22.2 million lost jobs have been recovered, or about 62 per cent.
While the low hanging fruit might've been plucked, the recent strength suggests the lost jobs could be recovered in full over the coming year.
Participation rates remain well down, and the unemployment rate edged down from 6.2 per cent to 6 per cent.
Overall, a strong result, with sizeable gains in hospitality and leisure, education, and construction.
5-year bond yields increased on the news.
