US employment used to be very strong in H2 of last year, after the massive decline in jobs during the lock-downs last year and the surge in the unemployment rate, which increased to 20% unofficially. In december we saw a dive though, as ADP employment figures declined by 123K.

But in the first two months of 2021 we have seen a 175K jump respectively and today’s report showed a massive increase of 517K, most of which came form services which is another positive sign, considering that manufacturing has been holding up employment and the economy since May last year. Now services are coming back too.

ADP Employment Report for March 2021