U.S. hiring picked up in January and wages rose at the fastest annual pace since the recession ended, as the economy’s steady move toward full employment extended into 2018.
Nonfarm payrolls rose 200,000 — compared with the median estimate of economists for a 180,000 increase — after an upwardly revised 160,000 advance, according to Labor Department figures released Friday. The jobless rate held at 4.1%, matching the lowest since 2000, while average hourly earnings rose a more-than-expected 2.9% from a year earlier, the most since June 2009.
Treasury yields and the dollar gained, while stock futures remained lower, as the data reinforced the Fed’s outlook for three interest-rate hikes this year under incoming Chairman Jerome Powell, including one that investors
From Industry Week