US jobs growth is expected to have moderated in February from the previous month’s breakneck pace, but remain elevated enough to keep pressure on the Federal Reserve to reconsider bigger interest rate increases.
The world’s largest economy is forecast to have added 225,000 jobs last month, less than half of January’s whopping 517,000, but still well above what US central bank officials consider in line with easing price pressures. Those gains would lead to the unemployment rate hitting a multi-decade low of 3.4 per cent.
Wage growth, meanwhile, is forecast to have again increased 0.3 per cent from January, matching the previous monthly uptick in average hourly earnings. On a year-over-year basis, it is set to have jumped 4.7 per cent.
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