Anticipation is building for a boom in US hiring this year

WASHINGTON (AP) — With hopes rising for a powerful rebound in hiring this year, Friday's jobs report for March will provide crucial insight into whether those rosy expectations may prove true.

The most optimistic economists are predicting that the government will report that as many as 1 million jobs were added in March — a blistering gain that would help recover a decent chunk of the 9.5 million jobs that remain lost to the pandemic. Still, the increase might not be quite that large: Overall, economists surveyed by data provider FactSet have forecast an increase of 615,000.

After a year of epic job losses, waves of coronavirus infections, and small business closures, numerous trends are brightening the outlook. Consumer confidence in March reached its highest level since the pandemic intensified. Americans have increased their spending as the latest stimulus checks have been distributed. More states and cities are easing restrictions on restaurants, bars and indoor gatherings. Vaccinations are being increasingly administered, although new confirmed infections have risen from lower levels in recent weeks.

The $1,400 checks in President Joe Biden's $1.9 trillion economic relief plan have sharply increased consumer spending, according to Bank of America's tracking of its debit and credit cards. Spending jumped 23% in the third week of March compared with pre-pandemic levels, the bank said.

“We're seeing a powerful response to stimulus payments from the consumer,” said Michelle Meyer, an economist at Bank of America. “It's hard to keep up with the economic strength.”

Lower-income Americans responded with particular vigor, with spending among cardholders earning under $50,000 soaring 69% compared with pre-pandemic levels. More than 127 million of the stimulus payments, worth $325 billion, have been...