Let's start with the good news.
The U.S. unemployment rate has dropped below 5% for the first time since 2008 and wages are finally on the rise, indicating that the multi-year economic recovery is not done yet.
The Labor Department's January report found that the U.S. added 151,000 jobs in the first month of the year, putting the unemployment rate at 4.9%.
The paychecks of the average American are also growing, an important element of the broader economic recovery that has lagged behind overall job growth. January wages were 2.5% higher than a year ago.
Now the not as good news.
The 151,000 jobs added came in below economists' expectations as tallied by Bloomberg and the Wall Street Journal. That number is also considerably lower than last January or the past three months, in which the country added more than 220,000 jobs. Read more...
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