U.S. Employers added 200,000 Jobs In January
Saturday, February 3rd, 2018 -- 8:03 AM
U.S. employers added a robust 200,000 jobs in January, and wages rose at the fastest pace in more than eight years, evidence of a consistently healthy job market.According to the Associated Press, U.S. employers added a robust 200,000 jobs in January, and wages rose at the fastest pace in more than eight years, evidence of a consistently healthy job market.
The pay gains suggest that employers are increasingly competing for a limited pool of workers. Raises stemming from Republican tax cuts and minimum wage increases in 18 states also likely boosted pay last month. The unemployment rate remained 4.1 percent for a fourth straight month, the lowest level since 2000, the Labor Department said in its monthly jobs report Friday. The figures point to an economy on strong footing even in its ninth year of expansion, fueled by global economic growth and steady consumer spending at home.
The pickup in hourly wages, along with a recent uptick in inflation, may make it more likely that the Federal Reserve will raise short-term interest rates more quickly in the coming months. Average hourly pay rose 9 cents in January to $26.74, after an even bigger increase in December. Compared with 12 months earlier, wages rose 2.9 percent, the biggest gain since the recession ended eight years ago.
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