U.S employers added +200,000 jobs in January (employers added an average of +181k a month in 2017).
Construction, manufacturing and restaurants had strong job growth, while Government payrolls grew by +4k last month.
Strong back-month revisions for average hourly earning and headline job prints – Dec payrolls revised to +160k and Nov revised to +216k
Average hourly earnings rose +0.34% from Dec following an upwardly revised +0.4% gain. Year-over-year, it was +2.9% compared with projections for a +2.6% increase. December’s gain was revised upward to +2.7%.
USD (€1.2455, £1.4165, ¥110.33, C$1.2361) is better bid across the board, while the 10-year yield has backed up to +2.834% as wage growth is starting to accelerate.
