US JOB GROWTH SLOWS IN JANUARY
NEWS Desk Global
U.S. job growth slowed more than expected in January after robust gains in the prior two months, but a 4.0% unemployment rate probably will give the Federal Reserve cover to hold off cutting interest rates at least until June.
The Labor Department's closely watched employment report on Friday also showed strong wage growth last month, with average hourly earnings surging by the most in five months, which should keep consumer spending supported. Labor market resilience is the driving force behind the economic expansion.
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