US sees wage growth as job data beats forecasts in January

The US added more jobs than expected in January, the latest Bureau of Labor Statistics reveal, while the economy is beginning to see wage growth coming through.

Some 257,000 new jobs were created last month, beating the 228,000 economists had forecast, showing the US recovery is progressing faster than expected. Employment gains over the previous two months have also been revised upwards by a total of 147,000, taking the number of jobs created over the last three months to more than 1,000,000. This is the strongest pace of job growth the economy has seen since 1997 and is likely to give the Federal Reserve yet another push to raise interest rates in the near future. Meanwhile, the economy saw wage growth, with wages increasing by 0.5% in J...