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SPXT - Broad Strength In The Labor Market In March
ProShares S&P 500 Ex-Technology
The March jobs report shows a strong, broad-based gain in private payrolls.
The strong report is consistent with other signs that the economic recovery from the government lockdowns in 2020 is gaining momentum as the restrictions on consumers and businesses are lifted.
However, the damage done by the lockdowns was severe; for nearly all private industries, employment is still below pre-pandemic levels, quite substantially below in some cases, and is likely to take a significant amount of time to fully recover.