US jobs data boost rate-rise odds

The US labour market recovery gained momentum last month as employers added more jobs than expected and wages rebounded. The dollar jumped against the euro on Friday after official figures showed that US employers added over 1 million jobs in the past three months alone – the most since 1997. Non-farm payrolls rose by 257,000 in January, exceeding analysts' expectations, and average hourly earnings increased by 12 cents after falling 5 cents the previous month. Torsten Slok, chief global economist at Deutsche Bank, said: 'The US economy is looking better and better.' The figures will have implications for the Federal Reserve; analysts believe the data could make a rate rise in June more likely.


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