US job growth surges in February

The economy created 313,000 jobs in February, official figures show, far 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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