By CountingPips.com
U.S. Nonfarm Payrolls employment data released today showed that jobs rose by the most in three years in the month of March while February’s jobs data was revised to a better showing. The Department of Labor nonfarm payrolls report showed that employment grew by 162,000 workers in March following February’s revised job loss of 14,000 workers. 
This was the best showing in private employment since May of 2007.
The jobs data, despite the increase, failed to surpass market forecasts that were predicting an increase by approximately 184,000 workers for the month.
The unemployment rate held steady at 9.7 percent for a third straight month with 15.0 million workers remaining unemployed. The 9.7 percent rate level was in line with expectations from market forecasts.
February’s employment totals were revised from an original estimate of 36,000 jobs lost to 14,000 jobs lost for the month while January’s employment data was revised from a loss of 26,000 jobs to a gain of 14,000 jobs.
The service-providing sector led the way of job creation as this sector gained 82,000 total workers in March as the education & health services sector added 45,000 jobs and the professional and business services sector increased by 11,000 jobs. Retail trade added 14,900 jobs and leisure and hospitality also added 22,000 jobs.
The goods-producing sector added 41,000 total jobs in March with the construction sector gaining 15,000 jobs and manufacturing creating 17,000 jobs. Mining and logging also added 9,000 workers for the month.
Government hiring, boosted by census hires, increased by 39,000 workers in March after shedding 22,000 workers in February.
