March Unemployment Rate Holds at 9.7%

The U.S. unemployment rate held at 9.7% in March, though payrolls increased by the most in three years, the Labor Department said Friday.

Employers added 162,000 jobs, lower than the 184,00 estimated by economists, Bloomberg reported. The unemployment rate was forecast to remain at 9.7%.

The job cuts followed 14,000 cuts in February payrolls, lower than what was originally reported.

The March figures include 48,000 temporary workers the federal government hired for the 2010 census, Bloomberg said.

Factory payrolls grew by 17,000 jobs, following a revised 6,000 gain in February. Construction jobs rose 21,000, following a 15,000 decrease.

Service industries added 121,000 workers following a 33,000 gain in February.