In a likely prelude of what's to come later this week, a report released Wednesday showed the biggest jump in hiring by private employers in six months.
The boost in hiring, as reported by payroll processing company ADP, comes as more Americans get vaccinated and President Biden's $1.9 trillion economic relief plan begins to make its way through the economy, both are encouraging more local economies to expand their re-openings and that's expected to unleash a strong wave of pent-up demand in coming months.
The biggest gains in hiring this month came from the battered leisure and hospitality industry; that's on top of the strong re-hiring seen for the sector in February.
Employment trends have definitely been looking up.First-time claims for jobless assistance are now at their lowest since the health crisis pushed millions of Americans out of work last year.Consumer confidence is up and manufacturing activity is strong as well, both are likely to bolster the overall economy and the labor market.
Confirmation of the upbeat tone for job seekers is expected to come Friday when the Labor Department releases its closely watched jobs report, which includes government hiring - - even though financial markets are closed for Good Friday.Economists predict total hiring surged in March and the unemployment rate dropped to 6 percent, that would be a fresh crisis-era low.