Job figures released Friday showed that the U.S. labor market rebounded strongly last month following a storm-ravaged October, with the economy adding 227,000 jobs and average hourly earnings rising by a higher-than-expected 0.4%.
'This rate is in line with the pace of productivity improvement over the last year and a stubborn low labor share of corporate sector income. Importantly, it means that real average wages continue to rise as they have the last 18 months.' The new data came as congressional Republicans and Trump's billionaire-dominated transition team and Cabinet choices continued to map out their agenda for the coming year, with tax cuts at the center.
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