Strong job and wage gains in Jan open door to mid-year rate hike

Washington

US job growth rose solidly in January and wages rebounded strongly, a show of underlying strength in the economy that puts a mid-year interest rate increase from the Federal Reserve back on the table.

Non-farm payrolls increased 257,000 last month, the Labour Department said on Friday. Data for November and December was revised to show a whopping 147,000 more jobs created than previously reported, bolstering views consumers will have enough muscle to carry the economy through rough seas.