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Sat 03 Mar 2007Positive jobs data soothe market fears of US recessionThe US economy created jobs at a steady pace last month as the unemployment rate eased to 4.5 per cent, according to fresh government figures that soothed market fears about a recession.Investors dramatically scaled back expectations of interest rate cuts as employers added 97,000 workers to their payrolls last month and the US labour department said 55,000 more jobs than previously thought were created during December and January.