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American employers create more than forecast jobs in February

American employers create more than forecast jobs in February

The U.S. jobs report released on Friday showed that American employers created more than forecast jobs in February, and the unemployment rate dropped.  

Analysts predicted a job creation of 175,000 jobs, compared to the actual reading of 273,000, while the previous reading of 225,000 jobs was revised up to 273,000 job-gain in December.

The unemployment rate slipped from to a record low of 3.5 percent from both prior and predicted readings of 3.6 percent.   

The average hourly earnings surged 0.3 percent last month, matching forecasts, after a 0.2 percent increase in January, compared to estimates of 0.3 percent surge.

The dollar index, which tracks the movements of the green currency versus a basket of major currencies, recovered slightly, yet still set for a sharp weekly loss, as of 13:42 GMT.

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