BREAKING NEWS

US labor market shows more signs of life

By REUTERS

MARCH 7, 2012 19:53

NEW YORK - US companies increased their hiring in February, shoring up expectations that the labor market recovery has moved into a higher gear.

Separate data on Wednesday showed wages grew much more quickly at the end of last year than originally estimated, good news for consumers but a potential inflation problem for the Federal Reserve.

The private sector added 216,000 jobs last month, according to the ADP National Employment Report, topping economists' expectations for a gain of 208,000.

The ADP figures come ahead of the government's more comprehensive monthly labor market report on Friday, which includes both public and private sector employment.

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