North American Jobs Reports Top Expectations, But Dollar Falls as US Unemployment Rises
311,000 jobs were created in the United States last month, but wage gains decelerated and the unemployment rate jumped as more people entered the workforce – making a half percentage-point hike at the March Federal Reserve meeting marginally less likely. According to data released by the Bureau of Labor Statistics this morning, the unemployment rate climbed to 3.6 percent in February, and the participation rate moved up to 62.5 percent from 62.4 in the prior month, indicating that some workers are coming off the sidelines. The previous two payroll prints were revised down by a combined 34,000. Average hourly earnings...