The U.S. economy added 227,000 jobs in January in the first employment report of President Trump’s administration, the government said Friday.
The strong hiring surpassed expectations, while the jobless rate rose from 4.7 percent to 4.8 percent, as 76,000 more workers entered the workforce to look for jobs.
The Labor Department said employers in the retail, construction and financial sectors hired the most workers. The government also revised its estimate down for job creation in November and December, lowering the total number of jobs created in that period by 39,000.
Wage growth remains a concern. Average hourly earnings were up 3 cents to $26 in January, compared with December’s 6-cent increase. For the year ended Jan. 31, wages increased 2.5 percent.
The January period includes weeks when Barack Obama was still president. Rep. John Yarmuth, Kentucky Democrat and ranking member of the House Budget Committee, said the report “is another reminder of how far our economy has come under President Obama’s leadership.”
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