Economy Adds 216,000 Jobs in March
(March jobs report updated with additional information)
NEW YORK (TheStreet) -- The economy added jobs at a faster pace than expected in March, evidence that the economic recovery is gaining momentum.
The Bureau of Labor Statistics said in its Employment Situation Report that nonfarm payrolls rose by a seasonally adjusted 216,000 in March. That was well ahead of expectations. Economists were expecting the headline number to increase by 185,000 according to consensus estimates from Briefing.com.
Companies added 230,000 jobs, helping to offset the decline in state and local government payrolls. Economists forecast private payrolls to increase by 203,000, according to Briefing.com. The ADP said in its estimate that companies added 201,000 jobs in March.The report also included revisions to previous month's data. Nonfarm payrolls rose by 194,000, higher than 192,000 originally reported. Private payrolls increased by 240,000, more than the 222,000 originally estimated.
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