“January 2018 was a solid month, reassuring in that it eliminated any anxiety that may have been caused by December’s below trend performance. The unemployment rate remained constant for the fourth consecutive month at 4.1 percent suggesting that the tight labor market may not be contracting as quickly as expected. Moreover, the labor force participation rate also remained constant for the fourth consecutive month, at 62.7 percent. The most encouraging metric in the report was the improvement in average hourly earnings which grew at a year-overyear rate of 2.9%, the highest rate since April of 2009. While one month does not make a trend, this is a long-awaited step in the right direction.”
To read more: check out the full report here: