Although the number of new non-agricultural jobs in the United States increased by 379,000 in February, far exceeding the 166,000 in January, the United States still lost 9.4 million jobs as of today compared to the pre-pandemic level. If we calculate the addition of hundreds of thousands of jobs every month, it will still take a while for the U.S. job market to return to its pre-pandemic level. Although the figures are positive, the market is overly optimistic in the pricing of these data. However, benefiting from the forementioned outstanding employment figures last Friday, the U.S. S&P 500 Index rebounded sharply and recovered much of its losses at the end of last week.
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