U.S. employers added 313,000 non-farm jobs in February, exceeding expectations and marking the biggest gain since mid-2016. Economists polled by MarketWatch had predicted an increase of 222,000 jobs. January's gains were adjusted up to 239,000 from 200,000. Unemployment remained at 4.1 percent, and hourly pay rose by 4 cents to $26.75. The 12-month wage gain fell from 2.8 percent in January to 2.6 percent in February. The slowdown in wage growth pointed to a gradual increase in inflation, suggesting little reason to adjust expectations that the Federal Reserve will hike interest rates at its next two-day policy meeting, which starts March 20.
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