The last six months were the best extended period for employee paychecks since the recovery began six-and-a-half years ago.
“That gain in average hourly earnings is significant,” said Diane Swonk, an independent economist in Chicago. Sustained increases are still needed to make up for years of stagnation, she added, “but it’s a move in the right direction, and that’s reassuring.”
Economists also said that the new figures suggested that the American economy was holding up well despite a slowdown in China, growing risks in emerging markets and turmoil in the stock market.
Obama, who expressed frustration that he has not received the credit he feels he deserves for the country’s improving economy, said the jobs numbers were further signs of progress.
“After reaching 10 percent in 2009, the unemployment rate has now fallen to 4.9 percent even as more Americans joined the job market last month,” he told reporters at a White House briefing in Washington. “Americans are working.”
Over all, employers added 151,000 jobs last month, a pace that is strong enough to keep soaking up people looking for work if it continues in the months ahead.
http://www.nytimes.com/2016/02/06/business/economy/jobs-report-unemployment-january-fed-interest-rates.html