Economics
U.S. Jobs Top Estimates With 225,000 Gain, Wages Accelerate
- Revisions erase some job gains under Trump’s presidency
- Jobless rate ticks up to 3.6% from a half-century low
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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.