The most anticipated economic report of the month comes Friday morning when the government releases the monthly jobs report.
The job market has rebounded from the devastating coronavirus recession, which wiped out 22 million jobs in March and April 2020 as businesses shut down or cut hours and Americans stayed home to avoid infection.It’s unclear whether the economy can maintain the momentum of the past year. The government relief checks are gone. The Fed raised its benchmark short-term interest rate two weeks ago and will likely keep raising it well into next year.
Employers posted a near record 11.3 million positions in February. Nearly 4.4 million Americans quit their jobs, a sign of confidence that they could find something better. Brighter job prospects are beginning to draw back into the labor force people who had remained on the sidelines because of health concerns, difficulty finding or affording daycare, generous unemployment benefits that have now expired or other reasons.
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