The U.S. added 678,000 jobs in February and the jobless rate fell to 3.8%, the Labor Department said Friday, signs of a robust labor market as the Federal Reserve prepares to raise rates.

“The labor market continues to be quite hot,” said Nick Bunker, an economist at Indeed. “It looks like the labor market is still primed for lots of strong employment growth.”

But the labor market is suddenly facing new threats that could impede further job growth: soaring oil pricesgeopolitical turmoil in Europe and looming rate increases from the Federal Reserve.

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