313,000 jobs added in February, unemployment at 4.1%

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The US economy added a surprisingly strong 313,000 jobs in February. That was much stronger than economists expected and the biggest gain since July 2016, according to Labor Department figures published Friday.

The unemployment rate stayed at 4.1%, the lowest in 17 years.

Wages grew 2.6% compared with a year earlier, a few notches below the pace in January. That delighted investors: The Dow was set to open up more than 150 points. More modest wage growth cools fears about inflation and rising US interest rates, both of which spooked the markets last month.

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