U.S. Jobs Top Estimates With 225,000 Gain, Wages Accelerate

(Bloomberg) — U.S. employers ramped up hiring in January and wage gains rebounded, providing fresh evidence of a durable jobs market that backs the Federal Reserve’s decision to stop cutting interest rates and hands President Donald Trump an early election-year boost.

Payrolls increased by 225,000 after an upwardly revised 147,000 gain in December, according to a Labor Department data Friday that topped all estimates of economists. The jobless rate edged up to 3.6%, still near a half-century low, while average hourly earnings climbed 3.1% from a year earlier…

The solid hiring defies expectations for step down to a slower pace of job growth as businesses delay investment, and exceeded the 175,000 average monthly gain for 2019. The pace supports Federal Reserve policy makers’ view of the labor market as strong, and is more than sufficient to keep up with population growth.

Article URL : https://finance.yahoo.com/news/u-jobs-top-estimates-225-133001952.html

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