January Payroll Growth Good, But Wage Growth Just Ok

The unemployment rate was 4.8%, higher than last month’s 4.7%, and higher than expectations. 
The labor force participation rate rose slightly 62.9%.

Total nonfarm payroll employment increased by 227,000 in January, and the unemployment rate was little changed at 4.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in retail trade, construction, and financial activities.