Payrolls in U.S. Climb as Jobless Rate Declines, Wages Rise

February 5, 2016 1:57 PM

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Job growth settled into a more sustainable pace in January and the unemployment rate dropped to an almost eight-year low of 4.9 percent, signs of a resilient labor market that’s causing wage growth to stir.

The 151,000 advance in payrolls, while less than forecast, largely reflected payback for a seasonal hiring pickup in the final two months of 2015, Labor Department figures showed Friday. The jobless rate fell to the lowest level since February 2008. Hourly earnings rose more than estimated after cli...

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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