Job growth slows, but wages rebound strongly

Washington

EMPLOYMENT in the US increased less than expected in December but a rebound in wages pointed to sustained labour market momentum that sets up the economy for stronger growth and further interest rate increases from the Federal Reserve this year.

Non-farm payrolls increased by 156,000 jobs last month, the Labor Department said on Friday. The gains, however, still remain above a level that is considered sufficient to absorb new entrants into the labour market.