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Last Friday's March 2021 payroll report exceeded expectations in nearly every category.
Analysts were hoping for something like the ADP's private employment gains (+517k), somewhere in the ballpark of 550,000-600,000. Instead, the BLS thinks the whole economy had added between 803,700 and 1,028,300 (90% confidence).
Unquestionably a good month, however leaving unanswered the same question plaguing the economy since the recession began over a year ago: is it anything more substantial than reopening?