The Bureau of Labor Statistics released its Employment Situation Summary for January 2018 today showing 200,000 jobs were created in the first month of this year, with construction jobs increasing at the fastest clip.
According to the BLS report, construction added 36,000 jobs, mostly among specialty trade contractors (+26,000). Employment in residential building construction continued to trend up over the month (+5,000). Over the year, construction employment has increased by 226,000.
Hourly wages jumped in January, with the average hourly earnings for all employees on private nonfarm payrolls rising by 9 cents to $26.74, following an 11-cent gain in December.
Over the year, average hourly earnings have risen by 75 cents - 2.9 percent -the highest level since June 2009.
Average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents to $22.34 in January.
In 18 states, minimum wage rates increased in January. The national unemployment rate stayed steady at 4.1 percent, a 17-year low.