Growth Club
1851 Growth Club
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Fox Business: Economy Added 200,000 Jobs in January; Wage Growth Best Since 2009
US employers add more jobs than expected in January and the unemployment rate reaches the lowest rate in more than 17 years.
After seeing a lower than expected jobs number in December, U.S. employers added more this month. According to a recent Fox Business article, 200,000 jobs were added in the first month of the year in the U.S. and the unemployment rate remained steady at 4.1 percent, which is the lowest it has been since 2009.
In President Trump’s first official State of the Union address, he discussed the economy and his tax overhaul, which has proven to be business-friendly leading to many U.S. companies offering bonuses, higher wages or lifting contribution to employees’ 401(k) retirement accounts.
Both increases in job and wage growth are raising concerns that the Federal Reserve’s interest raise hike will come sooner than expected to avoid inflation increases. This move would slow the economy and bring stocks down.
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