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US job creation in February surges; annual wage growth slows

Job creation in the US economy surged last month, but the annual rate of wage growth slowed.
 
The economy created 313,000 jobs in February, in excess of analysts' expectations.
 
However, the unemployment rate remained at 4.1%, while the annual earnings growth rate slowed to 2.6% last month.
 
January's annual wage growth rate - which had triggered fears over inflationary pressures - was also revised down from 2.9% to 2.8%.
 
The strong wage growth figure for January prompted sharp volatility on the stock market, as investors worried the US Federal Reserve would quicken the pace at which it increased interest rates.


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