National unemployment numbers fell and wages increased in January, according to the latest economic reports.
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, Labor Department figures showed Friday. The jobless rate held at 4.1 percent, matching the lowest since 2000, while average hourly earnings rose a more-than-expected 2.9 percent from a year earlier, the most since June 2009.
The report puts the nation closer to maximum employment – one of the goals of the Federal Reserve – and sets a solid tone for hiring this year following continued gains in payrolls in 2017. That could be starting to generate a sustained pickup in wages and boost demand in this expansion, which may also get a lift this year from tax-cut legislation signed by President Trump in December.
Now remember, President Trump didn’t build that; this is simply a result of the awesome economic plans Barack Obama initiated.