American economy got a whole lot better in January. About 200,000 jobs were created, higher than the 180,000 expected. The unemployment rate held at 4.1 percent, an 18-year low. Best of all, though, after decades of little to no wage growth for hourly workers, we saw a jump of nearly three percent, which is much higher than expected.
“Average hourly earnings rose 0.3 percent from the prior month following an upwardly revised 0.4 percent gain,” Bloomberg reports. “The 2.9 advance from a year earlier — which partly reflected a downward revision to the January 2017 wage figure — compared with projections for a 2.6 percent increase. December’s gain was revised upward to 2.7 percent.”
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