Overview: The economy gained 162,000 jobs in March as the unemployment rate held steady at 9.7%.  The ISM index rose 3.1 points to 56.1 in March.  Auto sales were up 21.2% from a year ago in March.  Personal income was unchanged in February; personal spending rose 0.3%.  Construction spending fell 1.3% in February.  Factory orders were up 0.6% in February.  Initial jobless claims fell by 6,000 to a level of 439,000 for the week ended 3/27.

The economy gained 162,000 jobs in March as the unemployment rate held steady at 9.7%.  A gain of 48,000 federal government jobs was due in large part to the temporary hiring of Census workers.

The ISM index rose by 3.1 points in March to 59.6.

Buoyed by incentives and price wars, auto sales rose to a seasonally adjusted annual pace of 11.78 million units in March.

Personal income was unchanged in February while personal spending grew 0.3%.

Construction spending fell 1.3% to its lowest level since November of 2002.  Construction spending is down 12.8% from a year ago.

Factory orders were up 0.6% in February.

Initial jobless claims fell by 6,000 to 439,000 for the week ended March 27th.