U.S. job gains fuel inflation fears

The U.S. generated 372,000 new jobs last month, far more than the 250,000 estimated by analysts, the Labor Department reported. The average hourly wage rose 10 cents, or 0.3%, to $32.08 and 5.1% over the past 12 months, the report said. The data offer little comfort to the Federal Reserve, which declared war on inflation that is at its highest level in 40 years at 8.6%…