WSJ Analysis: Jobs Report Fits Fed Outlook for Labor Market Gains, Rate Raises
Fed officials hope continued wage gains will draw more workers off the sidelines
The U.S. Labor Department’s December employment report should reassure Federal Reserve officials the job market finished 2016 on a solid footing, leaving them on track to gradually raise short-term interest rates this year.
Hiring slowed a bit last month from November, but the pace in recent months has been within the Fed’s comfort range. Unemployment ticked up in December, but it was still low at 4.7% and reflected an increase in...