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Economics

US Labor Market Seen Cooling, But Not Nearly Enough for Fed

  • January payrolls expected to climb by 190,000: median estimate
  • Economists see hourly earnings rising 0.3% from month earlier
Employees sort packages for delivery in Chicago, Illinois.

Employees sort packages for delivery in Chicago, Illinois.

Photographer: Christopher Dilts/Bloomberg
Updated on

US hiring likely continued to moderate at the start of the year, though still-solid wage growth, an unemployment rate near historical lows and high vacancies are seen stiffening the Federal Reserve’s resolve to keep rates elevated for some time.

Friday’s jobs report is expected to show payrolls rose by 190,000 in January. Economists also estimate that average hourly earnings rose 0.3% for a second month and the unemployment rate slightly ticked up from a five-decade low.