US jobs rise at fastest rate in two years in February, but wage growth cools

The US added an impressive 313,000 jobs in February, but wage growth cooled, according to the latest official employment report.

It was the biggest monthly increase in American non-farm payrolls since July 2016. January’s figure was also revised up to 239,000 from 200,000.

However, average earnings rose by only 2.6 per cent year on year, down from the 2.9 per cent figure published last month that some analysts claimed had set off February’s major stock market sell-off, on the back of expectations that strong inflation was finally returning to the world’s largest economy.

Source: Yahoo