U.S. Creates 227,000 Jobs In January; Unemployment 4.8%

The U.S. generated 227,000 new jobs in January to mark the biggest gain in four months. Economists polled by MarketWatch had predicted a 197,000 increase in new nonfarm jobs. The unemployment rate rose a tick to 4.8%, the government said Friday. Average wages edged up 0.1% to $26 an hour. Hourly pay increased 2.5% from January 2015 to January 2016, down from 2.8% in the prior month. Hours worked was unchanged at 34.4 after December's figure was revised up slightly. Combined employment gains for December and November, meanwhile, were 39,000 lower than previously reported. The government said 157,000 new jobs were created in December instead of 156,000. November's gain was chopped to 164,000 from 204,000.

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