The robust employment report underscored the strong momentum in the economy, raising the possibility that the Federal Reserve could be a bit more aggressive in raising interest rates this year.
Jobs numbers for 2017 were revised upward from 2.055 million to 2.173 million, a growth of about 118,000 more jobs previous year than was initially estimated, The Wall Street Journal reports.
Meaning, that even if wage growth is picking up it is canceled out by inflation when it comes to real wages.
Jason Patrick, who owns the Nashville, Tenn., office of Express Employment Professionals with his wife, said the tightening labor market means more workers are jumping to new jobs compared with recent years.
Kate Bahn, an economist at the left-leaning Center for American Progress, attributes last month's larger-than-usual pay boost to state measures that led to larger checks for more workers.
Economists suggest the rise in wages shows employers are getting more competitive in their efforts to retain skilled workers. "This is new for many employers".
One-time bonuses, which many other companies have given out, are not counted in the wage growth calculation. Yellen will be succeeded as Fed chair on Monday by Jerome Powell, a former investment banker and Fed governor.
"The gain in wages will add to concerns that inflationary pressures are building in the economy", said Michael Feroli, chief U.S. Economist at JPMorgan Chase, who correctly projected the payrolls gain. That forces employers to offer higher pay to attract and keep workers.
But black unemployment, which had been sitting at a record-low 6.8 percent, jumped to 7.7 percent last month, well above the 3.5 percent for whites.
The report comes three days after President Donald Trump delivered his first State of the Union address, citing the strength of the American economy, particularly in blue-collar sectors. Average hourly earnings, which had been rising at a modest 2.5 percent in the recovery, increased by 2.9 percent from the year before.
US payrolls expanded by 200,000 last month, driven by hiring in construction, food services and health care, the US Labor Department said. The industry has added 255,000 jobs in the past 12 months. Now, a decade later, it still remains below 3 percent. Leisure and hospitality firms, which include restaurants and hotels, increased pay 3.5 percent. Over the year, construction employment has increased by 226,000.
With Americans more confident and spending more, restaurants are adding jobs and lifting wages. Health care businesses added 21,000 new hires.
However, some areas in the USA are seeing higher wage growth than others. Average hourly wages rose 9 cents in January after December's 11 cent-per-hour gain.
Hiring at construction sites picked up last month despite unseasonably cold weather. Frontline construction workers might have stayed home during the cold spell, cutting into their pay, while salaried supervisors would have been paid either way.
Three army personnel were killed on Friday when an avalanche struck their post in Machhil sector of border district of Kupwara. Avalanches have caused some of the heaviest tolls for the Indian and Pakistani armies camping in the region.
When you want to compete at the highest level, you need to spend. "He's strong in the air, good quality with the pass". He played because [Vincent] Kompany and [John] Stones were out and he helped us a lot.
Notre Dame (20-5-1, 14-2-0 Big Ten) has been one of the stories of the 2017-18 college hockey season so far. Going on the road in a hostile environment, teams need their senior leaders to step up and make big shots.
The reformist Shargh newspaper covered the protestsunder the headline "Reactions to the removal of headscarves in the streets". Tehran police said on Thursday that the campaign had been instigated from outside Iran through illegal satellite channels.
The five-seater Gazelles are made by Britain and France , and are often used for light transport, scouting and attack missions. Security sources and a local authority official put the death toll at five, though that is yet to be confirmed.
Student Melanie Valencia, 13, said the school did a random security search Thursday, but that she's never been checked. Two students were shot Thursday morning in a classroom at a Los Angeles middle school, according to multiple reports.
Another civilian Shakir Ahmad Mir was killed on January 24, in a gunfight between forces and militants in Chaigund village. According to railway authorities, services were suspended "for security reasons, following advisory from police".
For the most part, clinical trials in Alzheimer's disease have been woefully disappointing-failed drug after failed drug. The breakthrough was the result of global collaboration between industry and academics in both Japan and Australia .
While Go is certainly a nice boon for those with lower-end smartphones, Google isn't stopping with the OS itself. This is the latest in the growing lineup of resource-friendly apps designed for the Android Go platform.
However, Finance Secretary Hasmukh Adia told a post-budget media briefing that the changes won't affect the customer. Meanwhile, spokesperson of the prime minister has issued clarification relating to increase in the petroleum prices.
Wolf supports the legislation for an independent commission and said that regardless of party, he wants citizens to lead the way. The state Senate is getting on with the process of altering Pennsylvania's current congressional districts, should the U.S.
With the Open Beta 3 , the company added the new gestures support for navigating on the OnePlus 5T with FullView display. According to OnePlus, you can expect to see improved launcher and ability to upload your photo through Shot on OnePlus.
Now, through research and education, it is known that heart disease is the number one killer of women over the age of 25. The program provides handmade red hats to babies born at participating hospitals in February for American Heart Month.
Timberlake's press conference also covered his plans for his forthcoming halftime performance, which will be his third. Singer Justin Timberlake and Patriots QB Tom Brady are having a full-on bromance. "It feels good to get it out".
LeBron to the Warriors would create a shift in power to the National Basketball Association that would be unrepairable. Those words of course did little to stop the constant, rampant speculation of where James will land next season.
For once. "I remember only the first", Argento says. "Someone was just offered $100,000 to tell him what hotel room I was in". Ok? McGowan is now promoting her memoir fearless , about her experiences having been sexually abused in Hollywood.
It said: "The last few months have been very hard for our family as we have tried to adjust to life without our father". Darren Osborne (dob 30/11/1969) was charged with one count of murder and one count of attempted murder.
Congratulating the UML on its electoral victory, Swaraj remarked that Nepal was getting a stable government after long. He also said that the Left government was willing to cooperate with India in the days ahead.
Bekah's mother did, in fact, hear from her daughter on the afternoon of November 18, when Bekah stated she was headed home. An astute reader responded to the photo, identifying her as Bekah M. from the current season of The Bachelor .
In case of Revenue Estimates, 13 analysts have provided their consensus Average Revenue Estimates for AbbVie Inc .as 7.5 Billion. Clint Carlson increased its stake in Autozone Inc (AZO) by 96.03% based on its latest 2017Q3 regulatory filing with the SEC.
CBS had the early schedule. "We made a competitive bid based on our two years of carrying 'TNF , '" NBC said. This new deal is "worth an average of more than $660 million a year", according to ESPN's Darren Rovell .
The Dow Jones Industrial Average fell 1.4 per cent to 26,076.89, the biggest drop in percentage terms in more than eight months. Eli Lilly lost $3.92, or 4.6 percent, to $82.17, while Gilead Sciences gave up $3.10, or 3.6 percent, to $84.19.
" Samsung's foundry business is now engaged in the manufacturing of crypto-currency mining chips", Samsung told the BBC . Demand for these sorts of chips has constantly gone up as the valuation of cryptocurrencies continues to rise.