The February jobs report is out and it’s upbeat, said Yahoo Finance.
In February, the U.S. economy added 235,000 jobs and the unemployment rate fell to 4.7 percent. Economists were looking for payrolls to rise by 200,000 with the unemployment rate dropping to 4.7 percent.
Earnings figures in February were also positive with average hourly earnings rising 0.2 percent over the prior month and 2.8 percent over the prior year. January’s earnings figures were also revised up to show wages grew 2.8 percent over last year, more than the 2.5 percent that had been reported.
This report, according to Yahoo Finance, as markets had expected, likely clears the way for a rate hike from the Federal Reserve next week.
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