Stronger than expected job gains reinforce hope of 'soft landing'

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Stronger than expected job gains reinforce hope of 'soft landing'
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The U.S. added 275,000 jobs in February.

U.S. job gains far exceeded expectations in February, a defiant show of strength that keeps the economy humming but signals a cooldown from the

A solid job market exemplifies the continued strength of the U.S. economy, since profits driven by strong demand lead to growth and additional hiring. However, excess demand risks driving up prices and rekindling inflation. Federal Reserve Bank Chairman Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, Mar. 7, 2024, in Washington.While job growth remains robust, the performance last month keeps the central bank on track for interest rate cuts this year, Mark Hamrick, senior economic analyst at Bankrate, told ABC News in a statement.

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