More than 900,000 jobs were added to the economy last month, a sign that a recovery could be taking hold. CBS2’s Kiran Dhillon reports
- Jobs report shows a surge in hiring across the country. More than 900,000 jobs added to the economy last month-- a sign that the recovery could be taking hold. CBS 2's Karan Dhillon has more now on who exactly is hiring.
KARAN DHILLON: It's back to business for BarDough in Hell's Kitchen. 50% of it's employees now back to work after COVID restrictions forced the restaurant to shut down for two months in January.
- It's tumultuous. That was a bummer, obviously. It was a letdown.
KARAN DHILLON: Bar manager, Alexander Dee, isn't the only person who entered the workforce last month, as businesses eased restrictions. More people got vaccinated, and stimulus money fueled the economy. Employers added 916,000 jobs in March-- the third consecutive month of gains. The unemployment rate dropping from 6.2% to 6%. President Biden speaking on the increase Friday.
JOE BIDEN: My message to the American people is this. Help is here. Opportunity is coming.
KARAN DHILLON: The job growth took place, across a variety of industries, with the biggest increases in leisure and hospitality, education, followed by construction. New York economist, Teresa Ghilarducci, says, recovery in the tri-state has been robust.
TERESA GHILARDUCCI: We are also seeing a return to restaurants. When Broadway opens up in September, we're going to see an even more robust recovery.
KARAN DHILLON: But despite the good news, Ghilarducci says, the economy is still about 11 million jobs short of where it would be, had the pandemic not happened. She says at this pace, the economy will fully recover. But it could take several years. She says more government stimulus, vaccinations, and the passing of President Biden's $2 trillion infrastructure proposal are necessary to further boost the economy.
TERESA GHILARDUCCI: We're going to see the stimulus checks have their effect, as people absorb the fact that they have more money in their pockets. Anticipation of the increased spending from the infrastructure bill-- that creates construction jobs. That creates home health care jobs.
KARAN DHILLON: Back at BarDough, these employees hope the economy's upward trajectory is here to stay.
- With the summer coming and everything like that, more people are going to be able to come out. More people are going to want to come in.
KARAN DHILLON: They hope more jobs will lead to more spending and more customers in Hell's Kitchen. Karan Dhillon, CBS 2 News.