The economy added 120,000 jobs in March as the unemployment rate edged down to 8.2%.  The ISM index rose 1.0 point to 53.4 in March as the ISM services index fell 1.3 points to 56.0.  Consumer credit increased $8.7 billion to $2.52 trillion in February.  Autos sales were down 4.8% in March.  Factory orders rose 1.3% in February while construction spending fell 1.1%. Initial jobless claims decreased 6,000 to 357,000 for the week ended 3/31.

• The economy added a lesser-than-expected 120,000 jobs in March as the unemployment rate edged down to 8.2%.  The labor force declined by 164,000 as the labor force participation rate edged down to 63.8%.  The number of unemployed persons declined to 12.7 million, from 12.8 million in February.  
• The ISM index increased 1.0 point to 53.4 in March.
• The ISM services index declined 1.3 points to 56.0 in March.
• Consumer credit increased $8.7 billion to $2.52 trillion in February. Revolving credit (i.e., credit cards) fell by $2.2 billion while non-revolving credit (i.e., auto loans) rose $10.9 billion.
• Auto sales were down 4.8% in March to an annual pace of 14.37 million units.  On a year-over-year basis, sales were up 10%.
• Factory orders increase 1.3% in February.
• Construction spending unexpectedly fell 1.1% in February.
• Initial jobless claims declined 6,000 to a level of 357,000 for the week ended March 31^st.