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 previously.
However average earnings rose by only 2.6 per cent, down from the 2.9 per cent figure published last month that set of a stock market correction on the back of expectations that that inflation was returning to the world's largest economy.
The January wage growth figure was revised down to 2.8 per cent.
The overall unemployment rate was unchanged in February at 4.1 per cent.
The greenback zigzagged in response to the mixed data, with the dollar shooting up to 90.343 before rapidly falling to 90.122.
But some analysts said the data was strong enough for the Federal Reserve to continue tightening monetary policy.
“Strong non-farm payrolls seals the deal for the pre-programmed and priced Fed rate hike in March and probably for one in June too," said Erik Norland of CME Group.
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