The economy beat expectations by adding 916,000 new jobs in March while the unemployment rate dropped to 6% as businesses recover from the COVID-19 pandemic, the Bureau of Labor Statistics reported Friday.
Forecasters had anticipated some 647,000 new nonfarm payroll jobs.
Demand for labor has increased as stores, restaurants, and other businesses keep emerging from the year-long slump brought on by pandemic restrictions. More and more people are getting vaccinated for COVID-19, the major factor at play in how quickly the economy can regain its pre-pandemic footing.
The growth also…