Overview:  The economy added 216,000 payroll jobs in March as the unemployment rate edged down to 8.8%.  Personal income increased 0.3% in February as spending rose 0.7%.  The ISM index declined 0.2 points to 61.2 in March.  Pending home sales rose 2.1% in February as construction spending declined 1.4%. The Case-Shiller home price index decreased 0.2% in January, and was down 3.0% from a year ago. Auto sales rose 6.4% in March.  Factory orders declined 0.1% in February. Initial jobless claims fell 6,000 to a level of 388,000 for the week ended 3/26.

• The economy added 216,000 payroll jobs in March and the unemployment rate edged down to 8.8%.  Private sector jobs increased by 230,000 and government jobs fell by 14,000.  The labor force was relatively unchanged.  The percentage of long-term unemployed increased to 45.9%, from 43.9% in February.
• Personal income rose 0.3% in February as personal spending increased 0.7%.  
• The ISM Index edged down 0.2 points to 61.2 in March. 
• Pending home sales increased 2.1% in February.
• Construction spending declined 1.4% in February.
• The Case-Shiller home price index edged down 0.2% in January, and was down 3.0% from a year ago.  The 20-composite index level of 141.9 is on par with levels last seen in mid-2003.
• Auto sales increased 6.4% in March to an annual pace of 13.4 million units.  
• Factory orders were down 0.1% in February.
• Initial jobless claims fell 6,000 to 388,000 for the week ended March 26^th.