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March yields first solid growth in jobs since recession...


However, the biggest burst in hiring in three years wasn't enough to lower the jobless rate, which held at 9.7%, the Labor Department reports. Economists still see a slow recovery in the labor market.
Reporting from Washington - The American economy added 162,000 new payroll jobs in March, the Labor Department said Friday, marking the first sign of substantial job growth since the Great Recession and the largest one-month increase in three years.

The job gains, however, weren't strong enough to bring down the unemployment rate, which remained at 9.7% in March for the third month in a row. And economists remained cautious, saying they expected the labor market recovery to be slow.

A chunk of the job increases in March, or 48,000 positions, came from the hiring of temporary workers by the Census Bureau. But the private sector generated 123,000 jobs last month, more than what many analysts were projecting.

Manufacturing payrolls expanded for the third month in a row, and the harbinger temporary-help industry added another 40,000 workers in March. Financial services and the information industry lost jobs, but healthcare, education, retailers and the leisure industry all added to their payrolls.

"It's the first month of really solid growth," said Bart van Ark, chief economist at the Conference Board, a business-membership and research organization in New York. "We see the job gains spreading across the economy."

Adding to the positive news, the government also revised upward the count of the nation's payrolls for the first two months of the year. It said the economy created 14,000 jobs in January instead of losing 26,000 as previously reported. And the losses in February were shaved by more than half, to 14,000.

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