U.S. adds 311,000 jobs in February

There was a mixed picture in the latest US jobs report as US payrolls increased by 311,000 in February exceeding expectations, whilst monthly wage growth slowed. The jobs added in February was in stark contrast to the whopping 504,000 jobs added in January but still underscores a resilient US labour market, in which this is the 11 month where jobs added have been above forecasts. On the other hand, overall wage growth was more tempered, climbing only 0.2% from a month earlier and 4.6% year-on-year. This was a shallower increase from the previous print. Yet, despite a mixed jobs report, the headline jobs figure paves a path for the Fed to revert back to a 0.5% rate hike at their next meeting as key indicators in the labour market appear more inflationary.