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U.S. employers added 235,000 jobs in February, a sizable increase compared to January’s strong payroll gains, when 227,000 new jobs were added.
Investors have been holding their breath in anticipation of February’s jobs report, as it is the final economic report to hit before the Federal Reserve’s March meeting, which may result in a rise in benchmark rates. Unemployment ticked downward to 4.7% from January’s 4.8%, CNN reports, as the labor market continues to tighten.
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