Solid job-growth pace maintained in March

Washington

EMPLOYERS in the United States boosted payrolls in March and the unemployment rate held at 6.7 per cent even as more Americans entered the labour force, showing steady progress that may prompt Federal Reserve policymakers to continue reducing stimulus while keeping interest rates low.

Payrolls rose 192,000 after a 197,000 gain in February that was larger than first estimated, the Labor Department reported yesterday in Washington. Private employment, which excludes government jobs, surpassed the pre-recession peak for the first time.

US stocks advanced, with the Dow Jones Industrial Average (DJIA) erasing its loss for the year, after the government report showing employers added to payrolls last month boosted confidence in the world's largest economy. The Standard & Poor's 500 Index gained 0.4 per cent to an all-time high of 1,896.5…