US nonfarm payrolls jumped by 916,000 in March, more than expected 660,000, according to the Bureau of Labor Statistics press release. The rate of unemployment fell to 6% on higher workforce participation.
The payroll figures were boosted by broad-based gains across industries, led by a 280,000 surge in leisure and hospitality.
Construction payrolls rose 110,000 after dipping in February amid severe winter weather.
Education employment rose as more schools reopened.
The $1.9 trillion stimulus package signed last month by President Joe Biden is expected to stimulate hiring amid renewed support for businesses and individuals.
Fed Chair Jerome Powell has pledged to continue supporting the economy with accommodative monetary policy despite the recent uptrend in economic and employment data.
U.S stocks and the dollar are currently gaining. SPY is up 1.08%, QQQ is up 0.24% on premarket, EURUSD is down 0.07%
