Employers in the U.S. boosted payrolls in March and the unemployment rate held at 6.7 percent even as more Americans entered the labor force, showing steady progress that will probably prompt Federal Reserve policy makers to continue reducing stimulus while keeping interest rates low.
Payrolls rose 192,000 after a 197,000 gain in February that was larger than first estimated, the Labor Department reported today in Washington. The median forecast in a Bloomberg survey of economists projected a 200,000 gain. Private employment, which excludes government jobs, surpassed the pre-recession peak for the first time.
Cars and light trucks sold at a 16.33 million annualized rate in March, the strongest since May 2007, according to Ward’s Automotive Group.