Economic and Financial Commentary – 10 February 2020
Data released during the week showed the U.S added 225,000 jobs in January (beating analysts’ estimate of 158,000 jobs for the month) compared to 145,000 jobs in December. Average hourly wage rate increased by 0.2% in January compared to a growth of 0.1% growth in December. Notwithstanding, the unemployment rate increased to 3.5% YoY, due to an increase in labor force participation rate by 0.2% to 63.4%, matching its highest level since June 2013. Notable job gains occurred in construction, health care, and transportation and warehousing.
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