(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.
Average work hours remained unchanged at 34.3. Average hourly earnings remained unchanged at $22.87. A broad range of sectors participated in the job creation in March with services sector continuing to lead the way with a payroll increase of 199,000. Goods-producing sector remained healthy, creating an additional 31,000 jobs, while manufacturing also continued to add 17,000 jobs. Temporary help saw an increase of 28,800 while health care and social assistance added 44,500. Manufacturing, temporary help and healthcare, have been among the biggest contributors to jobs in the recovery. Construction jobs declined by 1,000 while information sector dropped 4,000. The government shed 14,000 jobs. Futures were rising in premarket trading. The SPDR Dow Jones Industrial Average ( DIA) was gaining 0.4%, while the SPDR S&P 500 ETF ( SPY) and the PowerShares QQQ ( QQQ) were rising 0.5% each. --Written by Shanthi Bharatwaj in New York >To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: firstname.lastname@example.org.