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Non-Farm Payrolls boomed in March

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Miguel A. Rodriguez
Miguel A. Rodriguez
06 April 2021
Better than expected news today from the Bureau of Labor Statistics

Job growth surged last month at the fastest pace since August 2020, as 916K new jobs were created. It topped by far the 652K expected by the market. According to specialists, the boom is due to the more robust economic growth and the vaccination efforts, which pushed the companies to step up the hiring process.

One of the most affected sectors by the pandemic, Leisure and hospitality, reported the most jobs – 280K. It was followed suit by bars and restaurants with 176K and entertainment and recreation with 64K. However, despite the significant gains, the market is still 3.1 million jobs short compared to February 2020.

At the same time, the unemployment rate came in as expected, at 6%.

Policymakers reiterated that the labor market still has a long way to go so that the central bank could increase interest rates.

After the news hit the wires, USA30 and USA500 added more than 0.60%.

Sources: forexfactory.com, cnbc.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.