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follow TwoScoopsPlissken 2018 Mar 7, 4:22pm
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Private employers added more positions in February than economists forecast, adding to concern that inflation may accelerate and the Federal Reserve may boost interest rates at a faster-than-expected pace.ADP said the private employers added 235,000 jobs last month, compared with the Thomson Reuters projection of 195,000.Investors are keeping a close eye on U.S. jobs and the Fed's view of the economy. An acceleration in wage growth could encourage central bankers to raise interest rates at a faster pace this year.The Fed has forecast three rate hikes in 2018, and investors have grown concerned that a fourth increase could emerge given recent inflation gains. On an annualized basis, wages ticked 2.9% higher in January, up from 2.5% for all of 2017.
The number of employed Americans has now broken eight records, most recently in February, since President Donald Trump took office.
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