Fewer Americans looked for work in February, a sign of increasing discouragement among the nation’s work force. The drop-off sent the unemployment rate down to 4.8 per cent last month from 4.9 per cent in January. Wages grew more slowly, further depressing the outlook for consumer spending over the next few months. Among rank-and-file workers — more than 80 percent of the work force — average pay grew just 0.3 percent to $17.20 an hour. Wages are effectively running flat when adjusted for inflation.
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