Wages up by most in 8 years as US adds a robust 200K jobs
WASHINGTON (AP) — U.S. employers added a robust 200,000 jobs in January, and wages rose at the fastest pace in more than eight years, encouraging trends that suggest that the economy may accelerate this year.
The unemployment rate remained 4.1 percent, the lowest level since 2000, the Labor Department said in its monthly jobs report Friday.
The pay gains show that employers are increasingly competing for a narrower pool of workers with the U.S. expansion now in its ninth year. Raises stemming from Republican tax cuts and minimum wage increases in 18 states also likely boosted pay last month. The figures point to an economy on strong footing, fueled by consumer spending and global growth.