Jobs
US Jobless Rate Hits Two-Year High Even as Hiring Stays Strong
- Payrolls rose 275,000 in February after downward revisions
- Traders boosted bets for Fed’s interest-rate cut in June
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The US jobless rate climbed to a two-year high in February even as hiring remained healthy, pointing to a cooler yet resilient labor market.
Nonfarm payrolls advanced 275,000 last month following a combined 167,000 downward revision to the prior two months, a Bureau of Labor Statistics report showed Friday. The unemployment rate rose to 3.9% and wage gains slowed.