US job growth accelerates in January, but wages lag
Manufacturing payrolls increased by 5,000 jobs, rising for a second straight month as the oil-related drag on the sector eases
Washington — US job growth surged more than expected in January as construction firms and retailers ramped up hiring, which is likely to give the Trump administration a head start as it seeks to boost the economy and employment. Nonfarm payrolls increased by 227,000 jobs in January, the largest gain in four months, the US labour department said on Friday. But the unemployment rate rose one-tenth of a percentage point to 4.8% and wages rose marginally, suggesting that there was still some slack in the labour market. Revisions to November and December showed the economy created 39,000 fewer jobs than previously reported. Still, the labour market continues to tighten, which could soon spur a faster pace of wage growth. Federal Reserve officials view the labour market as being at, or near, full employment. "Continued strong job creation is tempered by the renewed sluggishness in wage growth, raising questions once again about the extent to which the functioning of the labour market has ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.