U.S. nonfarm payrolls climb 192K; jobless rate steady at 6.7 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

Washington, DC, United States (4E) – Hiring by U.S. employers for the month of March grew at a faster pace, an indication that the slowdown in the economy because of the harsh winter was only temporary.

In March, U.S. nonfarm payrolls rose by a seasonally adjusted 192,000, according to the Labor Department report released Friday. Payrolls for January and February were upwardly revised by a combined 37,000.

The country’s jobless rate remained steady at 6.7 percent in March, with more people finding work and more people joining the labor force.

Economists polled by The Wall Street Journal had called for a 200,000 increase in payrolls and the unemployment rate would decline to 6.6 percent in March.

The gains in March came from the private sector, with employment in the non-government sector reaching a new milestone. Private payrolls climbed 116.09 million in March, topping the previous record of 115.98 million in January 2008.

March employment improved in professional and business services that include the mining industry, health care and temporary work. The construction sector, which can be volatile depending on the weather, gained 19,000 jobs. Meanwhile, the manufacturing sector lost 1,000 jobs.

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