Wages Rise at Fastest Rate in More Than Eight Years Unemployment Rate Lowest Since 2000

Breitbart – Nonfarm payrolls rose by 200,000 in January while the unemployment rate held steady at 4.1 percent, the Labor Department reported Friday.
Economists had expected nonfarm payrolls to grow by 180,000.

The better than expected jobs figures suggest the economy continued to expand in January. Average hourly earnings grew by 0.3 percent for the month, putting wages on pace for an annualized gain of 2.9 percent.

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.

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